Delinquency rates increasing on credit cards


While we may be seeing some signs of improvement in the economy, credit card companies are certainly not getting any benefit from the improvement. September delinquency rates increased at five of the six top credit card companies when compared to August rates, according the CEO Bill Hardekopf.

American Express is the only one of the top six credit card companies not experiencing an increase in delinquency rates. Its rates stayed the same, according to Hardekopf by email interview. "These high delinquency rates could mean that consumers might continue to see rate and fee increases in the coming months, as well as credit limit decreases on their credit card accounts," Hardekopf said.