CHICAGO — Card holders continued to add to their overall cardbalances in the second quarter, but card delinquencies continued todrop according to one of the nation's big three credit bureaus.
|TransUnion reported that credit card debt nationally rose 2.63%to $1,717, up from $1,673 and 8.6% up from the second quarter of2007. The highest states for average credit card balances wereAlaska ($2,494), Tennessee ($2,109) and Alabama ($2,015). Thelowest card balances were in Iowa ($1281), North Dakota (1,318) andSouth Dakota ($1,388).
|Credit card balances rose the fastest in the second quarter inWashington D.C., Alaska and Tennessee, TransUnion said. But as debtrose, the rate of growth in delinquencies continued to drop.
|Nationally, the ratio of credit card borrowers delinquent on oneor more of their credit cards declined to 1.04% in the secondquarter of 2008, down 12.6% over the previous quarter, TransUnionreported.
|But TransUnion reported that on a year over year basis, thenational delinquency incidence rate has risen 14.3% from 0.91% inthe second quarter of 2007. Delinquencies was highest in Nevada(1.72%), followed closely by Florida (1.34%) and Mississippi(1.30%).
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