Tags: US | Credit | Cards | Defaults

Credit Card Defaults, Late Payments Dip in June

Thursday, 15 Jul 2010 06:55 PM

 

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Data on defaults and late payments shows consumers are getting a handle on their credit card payments. Five of the top six U.S. credit card issuers on Thursday reported declines in June charge-off rates, the unpaid balances they gave up on collecting.

Only Citibank, the nation's second largest issuer with roughly 90 million cards in circulation, said writedowns and late payments increased last month. Citi has the highest delinquency rate and second-highest default rate of the six banks.

The biggest improvement was reported by Chase, which has about 120 million cards in circulation, making it the top issuer in the U.S.

© Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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