| Credit-card
bills: Past due
U.S. credit-card delinquencies hit record in 2Q. Will retailers
suffer?
U.S. credit-card delinquencies -- accounts 30 days or more
overdue -- hit a record 3.66 percent of all accounts during
the second quarter, the American Bankers Association reported
Tuesday.
The ABA said delinquencies, reported on a seasonally adjusted
basis, rose from 3.53 percent in the first quarter.
Commenting on the report, Britt Beemer, chairman of America's
Research Group, told CNN's Business Day said two factors have
helped lead to more credit-card delinquencies:
banks are giving out an increasing number of cards, so people
with handfuls of plastic tend to panic and charge even more
when they get in trouble;
a growing number of lawyers advertise personal bankruptcy
as a solution.
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the full article at CNN™ Money
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