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Credit card companies celebrated too soon for having low delinquencies accounts, as reported by LowCards in an October 16th, 2012 news article.
Earlier this fall the five major credit card companies reported near-historical lows in the amount of delinquent accounts they had. However September revised all of that celebration by showing reports of increases in consumer’s missing credit card payments. Bank of America, Chase, Capital One, American Express, and Discover all reported that their delinquency rate is back on the rise. According to these companies a consumer’s account is considered to be delinquent when it is 30 or more days past due for payment.
Capital One showed the highest increase in delinquency accounts, increasing from 3.37 to 3.52. On the other hand CitiBank showed signs of a significant drop in their overdue accounts, dropping from 4.71 to 4.15. Although CitiBank had the biggest drop they are still holding the highest percentage of past due credit card accounts.
If you are facing financial hardship or you are considering bankruptcy, it is important to seek out a qualified attorney. Jayson Lutzky has over 29 years of experience practicing bankruptcy law. To set up a free consultation, call (800) 660-5299, or visit us online at www.BankruptcyNYC.com now.