TransUnion: Average Credit Card Debt Still Slipping

With stricter credit card laws taking effect this week, there’s even more bad news for card issuers. The average credit card debt continued its slide in the fourth quarter 2009, down to $5,434, a 3.18 dip from the previous quarter and down 5 percent from a year ago, reported TransUnion. The credit bureau also reported that the national credit card delinquency rate, the ratio of card borrowers 90 days late, increased to 1.21 percent in the fourth quarter, up 10 percent from the previous quarter, but remained flat year over year.

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TransUnion: Mortgage Delinquencies See New High in 4Q

Mortgage loan delinquencies – a tally of borrowers 60 days past due – climbed for the 12th straight quarter in fourth quarter 2009 to a new high of 6.89 percent, according to an analysis by the credit reporting agency TransUnion. Such mortgage delinquencies are normally a sign of foreclosures to come and TransUnion’s report suggests a deepening of the U.S. housing finance crisis.

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