Consumer credit card delinquencies remain stable

Northwestern Financial Review, Feb 1-Feb 14, 2005

Consumer credit card delinquencies remained relatively stable in the third quarter, while delinquency rates for other consumer loans increased, according to the latest Consumer Credit Delinquency Bulletin published by the American Bankers Association. Based on the number of credit card accounts, 4.26 percent were overdue, a slight decrease from 4.28 percent in the second quarter.

Based on total dollars outstanding, bank card delinquencies edged higher to 4.36 percent from 4.33 percent in the second quarter. The third quarter of 2004 ended a five-quarter trend of declining consumer installment loan delinquencies. The composite ratio of closed-end installment loans 30 days or more past due increased to 1.90 percent from 1.80 percent of all accounts.