Credit Card Delinquencies Poised to Rise, FICO Survey Data Suggest

October 4, 2011
American Banker 
credit card news

Concern is growing that credit card delinquency rates, in a downward pattern for more than two years, may start to move up again if the economy stagnates, according to new FICO survey data. The credit-scoring firm, owned by Fair Isaac Corp., said that 40 percent of the 188 bank risk managers it polled in August expected credit card delinquencies to increase over the next six months. Roughly half of respondents -- 49.8 percent -- said they believed average credit card balances will rise over the next six months, although 63.9 percent found it unlikely that credit card use will return to pre-recession levels for another five years or more. Half of the risk-management executives predicted that it will be 2020 before U.S. home prices return to 2007 levels. Additionally, 48.3 percent of respondents said they fear the country is on the brink of another economic downturn.
Web Link - May Require Paid Subscription

Abstract News © Copyright 2008-2013 INFORMATION, INC.
Powered by Information, Inc.

Stay Updated

Join the fight against predatory lending. Enter your e-mail to sign up for breaking news, action alerts, and CRL's original research.

   Please leave this field empty

Help Us End Predatory Lending

Predatory lending destroys family wealth, and preys on our most vulnerable communities. You can help us end abusive lending practices by donating to CRL, or by sharing our work with others.