Credit card delinquencies increased to 2.74 percent of all accounts in the third quarter, the ABA said, though that’s still below the 15-year average of 3.68 percent.
“There has been more credit being extended, and we’ll see whether this is the start of a movement upward,” Chessen said, referring to the increase in delinquencies. Still, “these types of fluctuations don’t come as a surprise amid a six-year period in which bank card delinquencies have been so far below their long-term average,” he said.
Auto loan delinquencies were also higher, up to 0.87 percent in the most recent quarter from 0.82 percent in the previous quarter, according to the ABA.
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