Credit card delinquencies drop nationwide

105767566The national credit card delinquency rate (the ratio of borrowers 90 or more days past due) decreased to 0.57 percent in the second quarter of 2013 from 0.63 percent in the second quarter of 2012, according to TransUnion, an international credit information firm.

In Colorado Springs, the 90-day credit card delinquency rate fell from 0.57 percent in the first quarter this year to 0.49 percent in the second quarter, according to figures released by TransUnion. The local 90-day delinquency rate was 0.69 percent the second quarter of 2012.

Nationally, on a quarter-over-quarter basis, credit card delinquencies dropped from 0.69 percent in the first quarter this year. The credit card delinquency rate ended the second quarter only one basis point from the all-time low of 0.56 percent, set in the second quarter of 1994.

Average credit card debt per borrower remained nearly unchanged over the last year, dropping from $4,971 in the second quarter 2012 to $4,965 in the second quarter this year. On a quarterly basis, card debt increased from $4,875 in the first quarter this year. Since 2000, the average 90-day credit card delinquency rate for the second quarter of the year has been 1.07 percent. In that same time period, average credit card debt in the second quarter has averaged $5,169.

This information is reported by TransUnion and is part of its ongoing series of quarterly analyses of credit-active U.S. consumers, evaluating how they are managing credit related to mortgages, credit cards and auto loans.