We notice you are visiting from a U.S. Internet provider. 
27/08/2009 -
In a trend that is likely echoed in Canada, American consumers are have taken control of their credit card debt in the second quarter of 2009, credit and information management firm TransUnion reported.The national credit card delinquency rate fell to 1.17 percent in the second quarter - a decrease of 11.36 percent from the previous quarter, and the first decline in the past year . Regarding regional credit card delinquency rates, no state experienced an increase.
However, thanks to the deepening recession, year-over-year credit card delinquencies are still up 12.5 percent.
Average credit card borrower debt also decreased by 0.98 percent, falling from $5,776 in the first quarter to $5,719 in the second quarter.
"Credit card delinquency remains well within historical norms and is not a cause for significant concern at this time," said Ezra Becker, director of consulting and strategy in TransUnion's financial services group.
As consumers begin to take control of their credit card debt, they will feel more confident spending with credit cards. In addition, banks will be more comfortable lending and approving credit cards.
Both of these factors make it even more important for businesses to have a variety of payment card processing options, including for credit cards, debit cards, prepaid cards and gift cards.
