Credit Card Delinquency Declines, LearnVest Rejoices

Libby Kane
Posted

It seems that someone has been reading their LearnVest—U.S. credit card delinquencies fell throughout October to their lowest levels this year, as more Americans are getting out of debt.

The Decline Of Delinquents

“Credit card delinquencies” is the name for mismanagement of credit cards, such as carrying a balance and submitting late payments. Fewer delinquencies means fewer delinquents, which means that many someones have been listening to our cautionary tales about proper credit card use.

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It’s A Country-Wide Trend

Daily Finance (from the Wall Street Journal) reports that not only does this low delinquency rate mean that we as a country are crawling out of our recession-induced debt, but also that the stock market is improving. The chain of events is this: More people pay their bills on time, banks have to keep less money in reserve to cover their decreasing debts, and the money no longer kept can be invested to keep bank stocks high. It’s a butterfly effect, beginning with the prompt payment of your bills.

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All For One, And One For All

This trend warms our hearts. The fact that the elimination of personal debt can nudge the entire country towards economic recovery is incredible, and serves to remind us not only are we all connected (shall we join hands and sing?), but that using your credit cards responsibly is of the ost importance. Credit card debt is a stressful, crippling state fraught with high interest rates and damaged credit scores, and we want nothing more than for you to escape unscathed. So mind your cards, pay your bills, and stay credit-healthy.

Tell us in the comments: How do you keep your credit card bills under control?