Credit Card Delinquencies Rates Fall As Does Usage

Credit card delinquency rates fell at major U.S. lenders in November as fewer consumers fell behind on their bill payments, signaling that they are recovering from the stress of the financial crisis.

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Comments

[Justin Werner]

01:22 AM on 12/16/2010

This is *great* news. The rise of debt levels made possible by credit cards is a tremendous factor in the financial problems of the Western world. I use credit cards, but do not maintain a balance. It gets paid every month. Period. I am one of the foolish ones that let debt get away from me once, and it took me years to dig out. Now that I am out, I am *not* going back in. It's good to know others have learned the lesson as well.

[bluejoni2525]

06:16 PM on 12/15/2010

Stop the presses how did this story slip in !!!!

[ebanks84]

04:45 PM on 12/15/2010

That's what I'm talking about. The more people DON'T use those slave cards, the more they will eventually get out of debt.

Cut 'em up people or send them speedily bank to the slave owners who sent them to you! Cash is the way to freedom and peace of mind.

[skymuffin]

03:53 PM on 12/15/2010

I've stopped using them on a daily basis, especially, Wells Fargo. With Wells, one false move and they will charge you for whatever they can think of. And, rather than a percentage, for small amounts, they charge a $1.00 fee. So, NOPE. The card is pretty, but it's staying in a drawer.

[I3addog]

03:22 PM on 12/15/2010

I'm done with the e v i l b@sturds and their cards. I haven't used one in two years. I use PayPal for online shopping and cash for everything else.

[ebanks84]

04:46 PM on 12/15/2010

Amen, so do I.

[Safire]

07:09 PM on 12/15/2010

Same here. They make no money off me, and I switched from Wells to a credit union and love it! Paid off all my cards too. Now they are hounding me to spend their checks. Fat chance!

[cats530]

02:33 PM on 12/15/2010

Starve the beast. Don't use big bankster credit cards.

[ebanks84]

04:47 PM on 12/15/2010

Right on!

[tgiovanni]

01:47 PM on 12/15/2010

"The steady decline in delinquencies this year at the top U.S. credit-card lenders signals that American consumers have recovered from the worst of the financial crisis."

I don't think that the American consumers have recovered; there are just fewer delinquencies AND, more and more consumers are not willing to finance the Holidays at 25%+ interest rate.

[AbeMartin]

12:44 PM on 12/15/2010

Cut them in half.  Pay off the balances.  Send the card fragments and the check to Capital 1, Bank of America, American Express, etc., with a note "stick this where the sun don't shine!"

[skymuffin]

03:51 PM on 12/15/2010

And make sure you use the banks' pre-paid envelopes, so that they'll pay for that, too.

[ebanks84]

04:49 PM on 12/15/2010

You got that right :). Make them spend some of that bounty they stole from us in the first place.