Credit Card Debt Falls Again in August to New Low

Patrick Lunsford

insideARM.com

October 12, 2011

Consumers in the U.S. took on less credit card debt in August as banks continued to charge-off past due accounts, resulting in another net loss in card debt outstanding. The total amount due on credit card accounts fell to the lowest level since the financial crisis began.

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Consumer spending falls off in April

Greg Robb

http://www.tennessean.com

June 01, 2011

WASHINGTON — Consumer spending rose by the smallest amount in three months during April, government data showed Friday, in a further sign of erosion in spending momentum because of higher prices at the gas pump.

Consumers’ spending rose 0.4 percent last month, the Commerce Department estimated.

Meanwhile, personal incomes rose 0.4 percent in April. Income has risen for seven straight months. 

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{Image courtesy of Associated Press}Associated Press

FTC Confirms Collection Complaints are a Small Fraction of Total ARM Contacts

F.H. Cann

insidearm.com

April 05, 2011

For the first time that I am aware of, the FTC finally correlated an error proportion (though not disclosed) in its Annual Report to Congress. This is particularly noteworthy because historically the only figures the FTC included in its report were the absolute number of complaints received and the change in that number from the previous year. 

 

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Credit Card Charge-Offs and Delinquencies Fall Again

Patrick Lundsford

insidearm.com

January 19, 2011

Net charge-off and delinquency rates in December declined again at five major U.S. credit card issuers, according to data filed by the banks this week with the SEC.

Bank of America, Capital One, Chase, Citi and Discover all reported lower chargeoff rates in December 2010 compared to November. December also marked the second-straight month – and the third in four months — that the five largest card issuers reported charge-off rates below 10 percent. 

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Credit Card Delinquencies Continue to Fall to 1999 Levels as More Than 8 Million Consumers Stop Using General Purpose Credit Cards

Press Release

insidearm.com

November 30, 2010

CHICAGO – TransUnion’s quarterly analysis of trends in the credit card industry revealed that the national credit card delinquency rate (the ratio of bankcard borrowers 90 days or more delinquent on one or more of their credit cards) decreased to 0.83 percent in the third quarter of 2010, down almost 9.8 percent over the previous quarter. Year over year, credit card delinquencies fell by 24.6 percent. 

 

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