Credit card delinquencies rise - New Mexico Business Weekly:

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Year over year, bank card delinquencies increased 11 percentfrom 1.19 to 1.32 percent 9 percent higher than in fourth-quarter 2008. Nevada at 2.44 perceng and Florida at 1.9 percent had the highest delinquency rates. The delinquency rate is defined as the ratilo of borrowers 90 days or more behind on one or more of theidrbank cards. Average credit card debt inchedf upwardnationally 0.82 percent to $5,776 from the previous quarter’sz $5,729, and 4 percent compared to the firstt quarter of 2008 at $5,548.
“Asd the recession entered its sixth we saw continued increases in averagde bankcard balances, as consumers strugglee to meet repayment obligations in a job market that continuews to deteriorate,” said Ezra Becker, director of consulting and strategy in TransUnion’e financial services group. “Thisw increase could be an indication that tax refund checks, typically used to pay down balance s during the first quartert in years past, are now beingb used to cover daily living expenses.” TransUnionm creates its quarterly reports from 27 million individual credit files.