Credit Card Delinquency Rate Highest In A Year

WASHINGTON -- Late payments on credit card bills climbed in the summer to their highest point in a year, suggesting that some consumers are feeling financially squeezed.

The American Bankers Association, in its quarterly survey of consumer loans, reported Tuesday that the percentage of credit card payments 30 or more days past due increased to 4.57 percent in the July-to-September quarter of last year.

That was up from 4.41 percent in the second quarter and was the highest since the third quarter of 2005, when the delinquency rate stood at 4.74 percent.

Read more at: Credit Card Delinquency Rate Highest In A Year