Credit Card and Debt Statistics Database
by Scott Bilker |
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Record credit card delinquencies in January 2009 |
| Charge-off rates in January 2009 were 40% higher than a year ago at 7.5% and were expected to approach 9% during the second half of 2009. As one would expect, late payments on credit card bills are closely link to unemployment levels. Non-farm employment fell 524,000 in December 2008, contributing to the biggest decline in payrolls on a three-month moving average since 1945. The unemployment rate jumped to a 15-year high of 7.2%, from 6.8% in November 2008. Many analysts are predicting financial conditions to worsen in the coming months. |
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Categories: |
Credit Cards,Late Payments |
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Reporting Pub: |
HoffmanBrinker.com |
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Reporting Date: |
2/1/2009 |
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Article
Title: |
Credit Card Debt Statistics |
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Article
Author: |
Mark Brinker |
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Pub's Source: |
Financial Times |
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Source
URL: |
View details from source |
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