This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Credit Card Debt, Delinquencies Fall in First Quarter

NEW YORK ( -- Americans are doing a better job of paying off their credit card debt, and in a timely manner.

According to the latest report from TransUnion, the average credit card debt per borrower fell 1.7%, to $4,878, in the first quarter of 2013, down from $4,962 a year ago. It declined 4.8% from $5,122 in the fourth quarter of 2012 when consumers charged their holiday shopping.

The credit card delinquency rate -- defined as payments at least 90 days overdue -- dropped to 0.69% in the first quarter of 2013 compared with 0.73% a year ago. In addition, this rate represented a 18.8% seasonal decline from the 0.85% posted during the fourth quarter of 2012.

The study also showed a decline in new credit card accounts. The latest data from the fourth quarter of 2012 found new credit card originations dropped 1.6% from the year before, from 7.695 million new accounts to 7.570 million.

"We traditionally see credit card delinquencies and balances decline during the first three months of the year as many people pay down their holiday shopping balances or use their tax refunds to pay off their debts," said Ezra Becker of TransUnion. "The year-over-year improvement in credit card delinquencies is indicative of how consumers continue to value their credit card relationships."

The report found the four states with the highest credit card delinquency rates were all from the South: Mississippi, Alabama, Arkansas and Georgia. The lowest delinquency rates were South Dakota, North Dakota, Montana and Minnesota.

Alaska had the highest credit card debt per borrower, averaging $6,789, while Iowa had the lowest at $3,810.
Bill Hardekopf is chief executive of, which compares and rates more than 1,000 credit cards. He is the co-author of "The Credit Card Guidebook."

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $94.06 -0.22%
FB $100.95 -0.05%
GOOG $680.84 -0.48%
TSLA $161.87 13.00%
YHOO $26.80 -1.10%


Chart of I:DJI
DOW 15,725.76 -188.98 -1.19%
S&P 500 1,827.93 -23.93 -1.29%
NASDAQ 4,243.1530 -40.4390 -0.94%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs