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Year over year, bank card delinquenciea increased 11 percentfrom 1.19 to 1.32 percent 9 percent higher than in fourth-quarter 2008. The delinquency rate is definefd as the ratio of borrowers 90 days or more behinde on one or more of theifbank cards. Average credit card debt inched upwardnationally 0.82 percent to $5,776 from the previous quarter’s and 4 percent compared to the firs t quarter of 2008 at $5,548.
“As the recessioj entered its sixth we saw continued increases in averagde bankcard balances, as consumers strugglexd to meet repayment obligations in a job markef that continues to deteriorate,” said Ezra Becker, directodr of consulting and strategy in TransUnion’s financial servicesz group. “This increase could be an indication that taxrefunsd checks, typically used to pay down balances during the first quarter in yearsa past, are now being used to cover dailhy living expenses.” TransUnion creates its quarterly reports from 27 million anonymous, individual credit files.
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