The national credit card delinquency rate of bankcard borrowers 90 days or more delinquent on at least one credit card decreased to 0.92% in 2Q/10, down 17.1% over the previous quarter and down 21.3% over the year ago period. Over the past two years, the closest the delinquency rate has been nearest this figure was in 2Q/08 when it was 1.04%. Credit card delinquency was still highest in Nevada at 1.50%, although its down from the last quarter figure of 1.79%, when the State still led the nation. Nevada is followed by Florida (1.24%) and Arizona (1.11%). The lowest credit card delinquency rates were found in North Dakota (0.54%), South Dakota (0.55%) and the District of Columbia (0.61%). These findings, according to Transunion research, reflects only Alaska showed an increase in credit card delinquency, up 7.4%, while the largest quarter-over-quarter drop in delinquency was found in the District of Columbia, down -28.2%, and Delaware, down -23%. Additional findings show average credit card borrower debt was down since the previous quarter by 4.1% to $4,951 from $5,165. This is down 13.4% from the year ago figure of $5,719 and is lowest average national balance in 8 years.
90+ DAYS DELINQUENCY
Source: TransUnion Trend Data