LOS ANGELES (AP) — An analysis of consumer-credit data shows that Americans are carrying more credit card debt than a year ago, yet the late-payment rate for card holders remains near an 18-year low.
Credit reporting agency TransUnion says the average credit card debt per borrower in the U.S. in the second quarter was $4,971. That's about 6 percent more than a year earlier.
The rise in card balances coincides with a 4 percent increase in the number of new cards issued to consumers in the second quarter.
Meanwhile, the rate of payments at least 90 days overdue inched higher to 0.63 percent from 0.60 percent in the same period last year, when the rate hit the lowest level in 18 years.
375-c-15-(Ross Simpson, AP correspondent)-"up more debt"-AP correspondent Ross Simpson reports many borrowers have taken steps to save money and whittle down their credit card debt. (13 Aug 2012)
<<CUT *375 (08/13/12)>> 00:15 "up more debt"
374-v-28-(Ross Simpson, AP correspondent)--Americans are carrying more credit card debt than a year ago, yet the late-payment rate remains near an 18 year low. AP correspondent Ross Simpson reports. (13 Aug 2012)
<<CUT *374 (08/13/12)>> 00:28
376-c-15-(Ross Simpson, AP correspondent)-"continue to climb"-AP correspondent Ross Simpson reports credit card holders are not whipping out the plastic as often. (13 Aug 2012)
<<CUT *376 (08/13/12)>> 00:15 "continue to climb"