It has been reported that there has been a drop in the level of credit card delinquencies in the US, despite the troubled economy and the financial crisis.

This information has led to speculation over the trend being quickly seen in the UK, which could mean further evidence that the economy is improving and problems are subsiding.

The data relating to US credit card figures have suggested that the situation could be improving for many customers, and with the trends of the US usually being seen in the UK it is hoped that the same will be seen on this side of the pond.

The credit reference agency Fitch has recently reported that in the United States credit card delinquency levels have fallen to around 4.37%.

These are payments that were overdue by at least sixty days. Credit card delinquencies in both the UK and the United States have been rising as a result of financial pressured on households, as well as because of the drop in credit card deals that has been seen over the past year and a half as a result of the global credit crunch.

An official from Fitch stated: “At this point, any sign of a pullback from the rate of acceleration in delinquencies is welcome news.”

It is hoped that, with credit card customers having suffered problems in both the United States and the UK when it comes to making repayments, the newly released figures will continue to improve on both sides of the Atlantic.

However, it is also feared that crippling interest rates being charged in the UK by some credit card providers could lead to more people falling behind on repayments.

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  4. What are the options for consolidating credit card debt?
  5. Increasing credit card defaults making recession worse

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