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Late Credit Card Payments at Historically Low Levels in U.S.

  • Bank-issued card delinquencies stood at 1.53% in third quarter
  • Delinquency rates for auto loans through dealers rise to 2.09%
Contactless payment credit card
Photographer: Chris Ratcliffe/Bloomberg

U.S. credit card delinquencies reached record-low levels in 2020, as Americans took advantage of stimulus checks and adjusted their spending habits, according to a new report.

Delinquencies on bank-issued cards stood at 1.53% in the third quarter of 2020, virtually unchanged from the previous quarter, after rising to 2.62% at the onset of the pandemic as millions of Americans lost their jobs, the American Bankers Association trade group said in a report published Friday.