Will The Number of Delinquent Credit Card Accounts Increase?
by Mike Killian
The American Bankers Association (ABA) recently posted statistics concerning delinquent credit card payments. The data indicates a continued high delinquency rate, which in turn leads to lower credit scores since past payment history accounts for about 35% of one's credit score. The more recent a tardiness, the more credit score points are sacrificed. A consumer could be 30, 60, 90 or more days late on an account and the impact on his or her score becomes progressively more pronounced.
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