U.S. credit card late payments up in final quarter

Published: February 18, 2014
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— Many Americans took on more credit card debt and failed to make timely payments in the final quarter of 2013, when consumers typically crank up spending on holiday shopping.

Even so, the national late-payment rate remained close to its lowest level in six years, TransUnion said Tuesday.

The rate of credit card payments at least 90 days overdue was 1.48 percent in the October-December quarter. That’s up from 1.36 percent in the previous three-month period, but down from 1.61 percent in the fourth quarter of 2012.

Average card debt rose to an average of $5,325. It slipped 1 percent from a year earlier.

Associated Press