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Year over year, bank card delinquencies increased 11 percenrfrom 1.19 to 1.32 percent 9 percent higher than in fourth-quartefr 2008. The delinquency rate is defined as the ratip of borrowers 90 days or more behind on one or more of their bank cards. Average credit card debt inched upwarsdnationally 0.82 percent to $5,776 from the previous quarter’zs $5,729, and 4 perceny compared to the first quarter of 2008 at $5,548.
“Aw the recession entered its sixtgh quarter, we saw continued increases in averag bankcard balances, as consumers struggledc to meet repayment obligations in a job market that continues to said Ezra Becker, directof of consulting and strategt in TransUnion’s financial services group. “This increase coulf be an indication that taxrefune checks, typically used to pay down balances duringf the first quarter in years are now being used to coverf daily living expenses.” TransUniob creates its quarterly reportes from 27 million anonymous, individual credit files.
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