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National Credit Card Delinquency and Charge-Off Rates

CH-Statistic-National-Credit-Card-Delinquency-Charge-Off-RatesYou can’t get an accurate sense of the consumer debt situation without considering credit card delinquency and charge-off rates.  These metrics speak to the sustainability of consumer spending habits, indicating the ability of credit card users to stay current on their bills.  For example, high delinquency rates may foreshadow a rash of defaults as well as the potential for a downturn in the economy, while a downward trend in default rates could indicate economic or habitual improvement.

Furthermore, consumers continue to owe charged-off debt for years, which means ignoring such sums will paint a misleading picture of the debt landscape.

Credit Card Charge-off Quarterly 2009 – 2013 — Not Seasonally Adjusted

Year Dollar Amount Q1 Dollar Amount Q2 Dollar Amount Q3 Dollar Amount Q4 Total
2013 $7,552,753,815 $7,345,915,109 $6,411,440,501 n/a n/a
2012 $8,613,301,751 $8,455,771,546  $8,045,933,040 $8,045,933,040 $25,115,006,337
2011 $13,823,382,846 $11,198,687,965 $11,396,695,646 $9,598,693,215 $46,017,459,671
2010 $20,623,022,000 $21,968,851,100 $16,902,537,750 $15,595,695,500 $75,090,106,350
2009 $17,237,087,700 $21,667,319,800 $22,109,657,500 $22,165,836,000 $83,179,901,000
2008 n/a n/a n/a n/a $53,506,353,600
2007 n/a n/a n/a n/a $38,149,440,000
2006 n/a n/a n/a n/a $32,111,934,400
2005 n/a n/a n/a n/a $40,634,994,400
(Source: Federal Reserve 2013, Fitch Ratings)

Annual Credit Card Delinquency and Charge-off Rates 1989-2013 — Not Seasonally Adjusted

Year Delinquency and charge off rate Q1 Q2 Q3 Q4 Annual Average
2013
Delinquency Rate
2.67 2.41 2.47 n/a 2.52
Charge Off Rate
3.78 3.62 3.19 n/a 3.53
2012
Delinquency Rate
3.10 2.79 2.84 2.78 2.90
Charge Off Rate
4.29 4.15 3.74 3.78 3.99
2011
Delinquency Rate
3.89 3.50 3.47 3.32 3.54
Charge Off Rate
6.96 5.58 5.63 4.53 5.68
2010
Delinquency Rate
5.88 4.90 4.59 4.22 4.90
Charge Off Rate
10.16 10.97 8.55 7.70 9.35
2009
Delinquency Rate
6.61 6.53 6.51 6.43 6.52
Charge Off Rate
7.62 9.77 10.10 10.12 9.40
2008
Delinquency Rate
4.80 4.74 4.83 5.72 5.02
Charge Off Rate
4.70 5.47 5.62 6.30 5.52
2007
Delinquency Rate
3.96 3.90 4.45 4.68 4.25
Charge Off Rate
3.93 3.85 4.05 4.15 4.00
2006
Delinquency Rate
3.80 4.01 4.17 4.05 4.01
Charge Off Rate
3.13 3.52 3.87 4.03 3.64
2005
Delinquency Rate
3.62 3.56 3.95 3.65 3.70
Charge Off Rate
4.63 4.35 4.33 6.05 4.84
2004
Delinquency Rate
4.10 4.02 4.12 4.20 4.11
Charge Off Rate
5.38 5.39 4.67 4.71 5.04
2003
Delinquency Rate
4.57 4.38 4.29 4.62 4.47
Charge Off Rate
5.77 6.11 5.40 6.07 5.84
2002
Delinquency Rate
4.85 4.61 4.96 5.05 4.87
Charge Off Rate
7.85 6.27 6.94 5.63 6.42
2001
Delinquency Rate
4.75 4.75 5.09 4.86 4.86
Charge Off Rate
4.77 5.24 5.25 6.43 5.42
2000
Delinquency Rate
4.35 4.32 4.62 4.70 4.5
Charge Off Rate
4.62 4.24 4.29 4.70 4.46
1999
Delinquency Rate
4.61 4.29 4.64 4.63 4.54
Charge Off Rate
5.04 4.38 4.40 4.64 4.62
1998
Delinquency Rate
4.72 4.56 4.80 4.82 4.73
Charge Off Rate
5.26 5.08 5.24 5.30 5.22
1997
Delinquency Rate
4.67 4.55 4.77 4.90 4.72
Charge Off Rate
4.92 5.40 5.38 5.60 5.33
1996
Delinquency Rate
4.04 4.12 4.53 4.68 4.34
Charge Off Rate
4.21 4.53 4.45 4.73 4.48
1995
Delinquency Rate
3.48 3.57 3.90 3.99 3.74
Charge Off Rate
2.94 3.33 3.63 4.01 3.48
1994
Delinquency Rate
3.62 3.18 3.29 3.30 3.35
Charge Off Rate
3.29 3.06 2.92 3.13 3.10
1993
Delinquency Rate
4.63 4.33 4.14 3.91 4.25
Charge Off Rate
4.09 3.90 3.58 3.39 3.74
1992
Delinquency Rate
5.31 4.96 5.04 4.70 5.00
Charge Off Rate
4.91 4.93 4.38 4.58 4.70
1991
Delinquency Rate
5.29 5.32 5.41 5.30 5.33
Charge Off Rate
4.18 4.68 4.75 4.69 4.58
1990
Delinquency Rate
Charge Off Rate
3.13 3.28 3.48 3.87 3.44
1989
Delinquency Rate
Charge Off Rate
3.21 3.03 3.31 3.17
(Source: Federal Reserve, May 2013)

Annual Credit Card Delinquency and Charge-off Rates 1989-2013 — Not Seasonally Adjusted

(Source: Federal Reserve, November 2013)

Region Average Number of Accounts Past Due
-June 2012-
Average Number of Accounts Past Due
-June 2011-
West South Central 1.15 1.65
South Atlantic 1.09 1.42
Mountain 1.03 1.31
East South Central 0.94 1.24
East North Central 0.90 1.19
Pacific 0.77 1.02
Middle Atlantic 0.71 0.95
West North Central 0.73 0.88
New England 0.64 0.75
US National 0.91 1.19
(Source: Experian National Score Index, June 2012)
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