TransUnion Predicts Fewer Credit Card Delinquencies in 2010

TransUnion officials hope that early signs of lower credit card delinquencies will lead to real economic recovery in 2010, according to reports in USA Today and the Wall Street Journal. Documents released to the newspapers and slated for public release this week indicate that the credit bureau expects the number of credit card holders with 90-day-late payments to drop to nearly 1% by the end of 2010.

Credit card industry analysts suggest a variety of reasons for the declining trend, including:

* More stringent credit profiling required under the Credit CARD Act will prevent fewer high-risk Americans from opening charge accounts.
* Many delinquent credit accounts were charged off when banks purged their credit card portfolios in 2009.
* Increased job creation will help many Americans earn the cash required to bring their credit card accounts into compliance.

TransUnion’s expected decline is smaller than the delinquency drops from the previous years, indicating to some economists that many American consumers have adapted to more frugal spending patterns.

Important Note! The information in this article is believed to be accurate as of the date it was written. Please keep in mind that credit card offers change frequently. Therefore, we can not guarantee the accuracy of the information in this article. Please verify all terms and conditions of any credit card prior to applying.

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