Amidst all the negativity that sometimes shrouds credit cards there is some amazing news. For the first time in a decade, bank card delinquencies dipped below the 15-year average. Earlier this month, the American Bankers Association (ABA) released a report announcing this good news.
According to the ABA’s report, credit card consumers overall have done a better job in meeting their debt obligations in the fourth quarter of 2010. They indicate that this may be attributed to a slowly improving economy which allows consumers to better manage their debt. Another contributing factor is that for the first time in two years, over 200,000 jobs were created; therefore the unemployment rate dropped to 8.8 percent.Continue Reading