Seeking Alpha

Bank-card delinquencies fell to an 18-year low of 2.75% during Q3, the American Bankers...

Bank-card delinquencies fell to an 18-year low of 2.75% during Q3, the American Bankers Association says. Delayed payments in a composite ratio of eight loan categories, which doesn't include bank cards or mortgages, fell to 2.16% of all accounts from 2.24% in Q2. However, the ABA warns that weak hiring and the expiration of the payroll tax cut could make it harder for consumers to repay debt.
Comments (4)
  • 7footMoose
    , contributor
    Comments (2266) | Send Message
     
    After you write off tens of billions of dollars in deadbeats and reduce even paying card holders availability these things happen. It is hardly a reflection on the state of the consumer.
    3 Jan 2013, 07:43 AM Reply Like
  • enigmaman
    , contributor
    Comments (2686) | Send Message
     
    7Ft- Agreed that banks have been more cautious who they give credit to and how much but you also have to factor in that card holders are being more prudent, careful with credit, a good thing because even those who are working are not sure about what tomorrow brings.
    3 Jan 2013, 08:05 AM Reply Like
  • drewmcelligott
    , contributor
    Comments (15) | Send Message
     
    Also have to factor in the fact that the credit cards cos. are back to offering every single week balance transfers w/ 0% for 1-2 yrs aka Deferment programs. Credit roulette never gets old. I'm sure those chickens won't come home to roost...
    3 Jan 2013, 10:01 AM Reply Like
  • SoCalNative
    , contributor
    Comments (431) | Send Message
     
    I recently got a Barclays World MC with 0% for 18 months. They gave it to me w/o transferring a balance but, they do send me those "checks" every month for 24.99% the second they're deposited. I don't think so!
    3 Jan 2013, 01:33 PM Reply Like
DJIA (DIA) S&P 500 (SPY)
ETF Tools
Find the right ETFs for your portfolio:
Seeking Alpha's new ETF Hub
ETF Investment Guide:
Table of Contents | One Page Summary
Read about different ETF Asset Classes:
ETF Selector

Next headline on your portfolio:

|