Report: Credit delinquency rate lowest in nearly 18 years - WOWK 13 Charleston, Huntington WV News, Weather, Sports

Report: Credit delinquency rate lowest in nearly 18 years

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It seems credit card holders are paying their bills a little more frequently. 

Delinquency rates are at a near 18 year low, according to a study released by TransUnion, a credit reporting agency. Those rates dropped in the second quarter of 2012 to numbers not seen since 1994, according to a news release on the study.

Delinquency is calculated by cardholders who are behind on payments by 90 days. That rate dropped to .63 percent of cardholders from .73 percent in the first quarter.

"The national credit card delinquency rate continues to remain at the lowest levels we've observed in 18 years," said Ezra Becker, vice president of research and consulting in TransUnion's financial services business unit, in a statement. "These low delinquency rates reflect both continued conservatism in lender underwriting and the ongoing prioritization of card payments among consumers."

Despite that drop in delinquency, consumers increased their credit card debt in the same time period from an average $4,699 to $4,971, according to the release.