Credit card debt, delinquencies rise
Credit card debt, delinquencies rise
NEW YORK (AP) — The percentage of people who were delinquent on their credit card payments rose slightly in the second quarter from the same time last year, while average debt per borrower jumped 8.6%, according to credit reporting agency TransUnion LLC.
[...]Banks have been tightening lending standards and credit card limits, which also may have contributed to the quarter-over-quarter decline, he said. “A lot of people who would have gone delinquent in the past are no longer getting new credit cards or those higher limits,” Becker said.
The figures are culled from TransUnion Trend Data, which consists of 27 million consumer records randomly sampled each month from the credit reporting agency’s national consumer credit database.
[...]Meanwhile, the average debt per borrower for the second quarter stood at $1,717, up 8.9% from $1,581 in the second quarter of 2007. Debt per borrower increased 2.6% from the first quarter, when it stood at $1,673.
