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Credit-card delinquencies (one of the earliest indicators of future losses) have fallen to 2010...

Credit-card delinquencies (one of the earliest indicators of future losses) have fallen to 2010 lows again at Bank of America (BAC), JPMorgan Chase (JPM), Discover (DFS) and Capital One (COF). But in recovery-watch news, consumers are also wary of taking on new spending; an all-time low of 16.3% used credit cards on the Black Friday weekend, compared with 30.9% last year.
Comments (4)
  • spald_fr
    , contributor
    Comments (2705) | Send Message
     
    I see many of the larger credit cards are advertising "cash back" incentives as a way to get people to use their credit cards, rather than cash.
    15 Dec 2010, 11:40 AM Reply Like
  • Momonthego1
    , contributor
    Comments (17) | Send Message
     
    I find that 16.3% number difficult to believe. I would have the person who published the stat check their numbers. I would believe a lower total transaction size year over year as shoppers have been conditioned to wait for very good deals.
    15 Dec 2010, 12:00 PM Reply Like
  • djbigley
    , contributor
    Comments (99) | Send Message
     
    Cash back is always nice BUT it never adds up to be beneficial when factoring in the interest on the card. Cash back = A way to make you feel good about using your credit card.
    15 Dec 2010, 12:18 PM Reply Like
  • If U Say So
    , contributor
    Comments (348) | Send Message
     
    If you lower credit limits, stop issuing credit cards to people you gave it to in previous years and you throw a deep recession into the mix, you can expect delinquencies to first spike and then drop precipitously. Its all common sense.
    15 Dec 2010, 12:30 PM Reply Like
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