Average US credit card debt per borrower up in 3Q

[Omaha Steve]

Source: AP-Excite

By ALEX VEIGA

LOS ANGELES (AP) - Americans cranked up their use of credit cards in the third quarter, racking up more debt than a year ago, while also being less diligent about making payments on time, an analysis of consumer-credit data shows.

The average credit card debt per borrower in the U.S. grew 4.9 percent in the July-to-September period from a year earlier to $4,996, credit reporting agency TransUnion said Monday.

At the same time, the rate of credit card payments at least 90 days overdue hit 0.75 percent, up from 0.71 percent in the third quarter of last year, the firm said.

While higher, the late payment rate is rising from historically low levels. The lowest late payment rate on TransUnion records going back to the mid-1990s was 0.56 percent, set in the third quarter of 1994. More recently, it was at 0.60 percent in the second quarter of last year.

FULL story at link.



Read more: http://apnews.excite.com/article/20121119/DA2KRR702.html

[Turbineguy]

1. It's going to be higher yet in Q4

My Son's VW Passat needs a new heater core put in.

[dixiegrrrrl]

2. Not a good sign of the economy at all.

[panAmerican]

3. The economy is still uneven at best

There are definitely sectors which are hot, and employees are in the driver's seat, but it gives you pause to see the lack of mobility in many other jobs.

[songtu]

4. Spam deleted by hlthe2b (MIR Team)