Credit Card Bill (Image: Flickr)

In 2008, the delinquency rate was around 1.2%. In 2009, that number jumped to more than 1.3%.

Well some industry observers were hoping for a decline on delinquency rates, this news doesn’t come to the surprise of most experts. With the national economic downturn yet to heal, consumers are struggling to make ends meet. When money runs out in a household, credit cards are usually one of the first items that go unpaid.

Compared to the foreclosure crisis, things are still relatively healthy in the credit card industry. That said, more and more credit card companies are looking at monetizing debit cards to offset loses elsewhere in their business models.

Post from: EveryJoe

Delinquency Rate on Credit Cards Jumps