Iowans Have Lowest Per Capita Credit Card Debt

By George Ford, Reporter


By Aaron Hepker

CEDAR RAPIDS, Iowa - Iowans had the lowest credit card debt per capita at the end of the second quarter as the national credit card delinquency rate approached an all-time low.

TransUnion of Chicago, a provider of credit information and information management services, said Iowans had the lowest average credit card debt per borrower at $3,885 on June 30. Alaska residents had the highest per capita credit card debt at $6,910.

Average credit card debt per borrower remained nearly unchanged over the last year, dropping from $4,971 in the second quarter of 2012 to $4,965 in the most recent quarter.

Since 2000, the average 90-day credit card delinquency rate for the second quarter of the year has been 1.07 percent, according to TransUnion. During that same time period, average second-quarter credit card debt has averaged $5,169.

Only two states -- Indiana and New Hampshire -- experienced increases in their delinquency rates year-over-year, though the magnitudes of the increases were small.

"The low delinquency rates we see are in part due to the continued conservatism among lenders in extending credit to non-prime consumers," said Ezra Becker, vice president of research and consulting in TransUnion's financial services business unit.

"The percent of credit card originations going to that population is still much lower than the 45 percent or so that we saw prior to the recession."

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