Credit card late payments back on the rise [View All]

[OhioChick]

Source: CNN Money

October 19, 2011: 6:20 AM ET

NEW YORK (CNNMoney) -- After a couple years of buckling down and making on-time payments, consumers are starting to be a tad less responsible with their credit cards again.

Some of the country's major credit card issuers posted small increases in the number of credit card payments that were at least 30 days late in September, following a steady decline in delinquency rates since early 2009.

"Any time delinquencies go up I think it's a cause for concern, especially since we've seen a pretty good trend in declining delinquency rates," said Bill Hardekopf, CEO of credit card comparison site LowCards.com. "It looks like a signal that consumers are struggling."

Late payments among Capital One (COF, Fortune 500) customers have been rising slightly since June, when its delinquency rate rose to 3.33% -- from 3.32% in May. But last month, the delinquency rate jumped significantly -- to 3.65%, from 3.43% in August and 3.37% in July.

Read more: http://money.cnn.com/2011/10/18/pf/credit_card_late_payments/