Credit card delinquency data reported

Northwestern Financial Review, Feb 1-Feb 14, 2006

Late payments on credit card loans declined in the third quarter of 2005, according to the American Bankers Association. The number of credit card accounts 30 days or more past due decreased to 4.74 percent from the record high of 4.81 percent in the second quarter of 2005. "The fall in delinquencies was a welcome change, but signs of financial stress still are present," said James Chessen, ABA's chief economist.

"The persistent interest rate increases by the Federal Reserve and record high gas prices in the third quarter provided a one-two punch that continued to inflict pain on personal budgets." Additionally, past-due payments on home equity lines of credit - the lowest delinquency rate category - increased to 0.46 percent from 0.43 percent.