Credit card companies seeing fewer defaults
But they don’t necessarily attribute it to consumers being more secureDES MOINES, Iowa – Most major credit card companies say fewer customers defaulted on their accounts in July, but that doesn’t necessarily mean they’re financially better off.
A few credit card issuers say more families fell behind on payments, which could be another sign that household finances have yet to recover from the recession.
With more than 6 million people living on unemployment benefits and the recession continuing to pressure family budgets, many are forced to prioritize their bills. The reality is that credit cards often fall to the bottom.
Credit card companies have been trying to limit their risk over the course of the last year. Major credit card issuers reporting monthly results say the rate of losses from unpaid accounts improved from June to July.
read full article here… Credit card companies seeing fewer defaults – U.S. business- msnbc.com.
