More than 8 million US
cardholders have stopped using their credit cards in the past 12
months.
Quarterly credit data from credit agency
TransUnion reported that around 62 million people now have an
active card in the US, compared with 70 million a year
ago.
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TransUnion said that the deleveraging is
due in part to “charge-offs in the higher risk segments of the
population, more conservative spending in the low-risk segments,
and significant efforts by consumers across the board to maintain
the health of their credit card relationships as a financial
cushion.”
National average credit card borrower debt
(the aggregate balance on all bank-issued credit cards for an
individual bankcard borrower) edged upward for the first time in
six quarters by 0.28 percent to $4,964 from the previous quarter’s
$4,951, but down 11.54 percent compared to the third quarter of
2009 ($5,612).
On a year-over-year basis, national credit
card originations increased for the first time since the recession
began in late 2007.
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By GlobalData
