Credit card delinquencies decline

March 9, 2009 4:20:04 AM PDT
Americans are managing their credit better as the recession deepens - possibly a sign that the new era of responsibility that President Obama has been talking about is taking shape.

The number of people three months behind on bankcard payments fell 11 percent in the fourth quarter of 2008 from a year ago. Consumers restrained spending during the holidays, adding less than 2 percent to their balances, according to consumer credit tracking agency TransUnion.

The percentage of consumers behind 90 days or more on payments for their bankcards - MasterCard, Visa, American Express and Discover - fell to 1.21 percent in the fourth quarter, from 1.36 percent a year ago.

More on-time payments came even in the face of worsening job losses and home foreclosures.

Morey money-related links:

CLICK HERE to follow Action News on Twitter

CLICK HERE to get Action News on your website

CLICK HERE to find Action News on Facebook

Click here to get the latest Philadelphia news and headlines from across the Delaware and Lehigh valleys.