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Bankcard debt levels decline
to early 2006 levels |
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February 17, 2011 |
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Bankcard balances continue to fall as consumers carry less bankcard debt across their lending relationships. In Q4 2010, consumers had an average of $4,257 in balances, down from $4,301 a quarter earlier. This reduction in balances is unprecedented in recent years. The last time consumers carried balances this low was in Q2 2006 — before the credit crisis — when bankcard balances averaged $4,220.
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Register for an upcoming Webinar featuring credit and loan performance trends over the past year and the most recent quarter (Q4 2010).
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