Late Credit Card Payments Edge Higher

Published on:
8 December 2006 at 06:33 a.m. ET

Written by: Unknown Author –

http://www.insidearm.com/news/00005231-late-credit-card-payments-edge-higher/

by Patrick Lunsford, CollectionIndustry.com

Late payments on credit card bills increased slightly up this past spring, at a time when high energy prices were squeezing American consumers, the American Bankers Association reported today.

The group said that the percentage of credit card payments past due by at least 30 days increased to 4.41% in the second quarter, up slightly from 4.40% during the first quarter of 2006.

The ABA directly blamed soaring energy prices in the second quarter and rising interest rates for the slight increase in delinquencies.