First Quarter Credit Card Delinquency Rate Jumps
June 8, 2009, 4:49 PM
South Dakota remains among the states with the lowest delinquency rate for bank-issued credit cards.
The credit reporting agency TransUnion said the delinquency rate nationally increased to 1.32 percent in the first quarter of the year. The average total debt on bank cards rose to $5,776. Balances typically rise in the first quarter when holiday spending comes due.
Bank card delinquency rates remained the highest in states hardest hit by the mortgage meltdown: Nevada, Florida, Arizona and California. North Dakota, South Dakota and Alaska had the lowest delinquency rate.
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