Credit-Card Delinquencies Drop to Lowest Level in 8 Years

US credit-card delinquencies tumbled in the 2Q as individuals’ average balance hit an eight-year low and nonpayments dropped at the fastest pace since the end of 2007, according to consumer-credit rater TransUnion. Credit-card accounts 90 days or more overdue were 0.92%, down 21% y/y and 17% from the 1Q. The figure is projected to stay below 1% the rest of the year, TransUnion said. – WSJ