By Steve Gelsi, MarketWatch
U.S. credit-card delinquencies fell to their lowest level since 1995 as Americans moved to pay down their debt.
The latest data on the $400 billion of U.S. credit-card receivables showed that the proportion of cardholder balances that were more than 30 days late fell to a level not seen in 10 years, according to Moody’s.
The delinquency rate fell to 4.07% in April, down from 4.52% a year ago. On a year-over-year basis, the delinquency rate has improved for each of the last 21 months, Moody’s said.
Overall credit-card debt decreased 0.6% in April, the second straight month of decline. Nonrevolving credit such as auto loans rose 1.5%. In a separate report, the Federal Reserve said overall new consumer debt was up 10% in the first quarter.
For this complete story, please visit U.S. credit-card delinquency rates fall.
