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Finally, some great information about Americans and the way we take care of money!

According to a new research carried out by the American Bankers Organization (ABA), Americans are for the first time in two decades staying on par with their charge card payments.

ABA states that delinquencies are slowing down in 11 from 13 loan classifications, which include individual loans, direct and indirect auto loans, and charge card.

In the first quarter of 2013, credit card delinquencies collapsed from 2.47 % to 2.41 %, and ABA’s main economist James Chessen “connected the falling delinquencies to a stable enhancement in the economy and enhancing monetary health for consumers.” This percentage of credit card-related delinquencies is at its cheapest since June 1990.

From ABA’s official statement:

“Sharply lower delinquency levels reflect improving consumer account, steady job creation and a continuing increase in home wealth,” Chessen stated. “Lots of customers have actually found out the hard lessons of recession, and have actually redoubled their efforts to keep financial obligation at manageable levels.”

Chessen believes that increasing wealth and improving customer self-confidence have actually played a vital role in lower delinquency rates.

“Household total assets rebounded in the first quarter, rising above its pre-recession peak for the first time in over five years,” Chessen explained. “Increasing home and stock costs develop a wealth result that enhances consumer self-confidence, which adds to healthier financial resources and a higher ability to pay down debt.”

It’s great that individuals are being more responsible with their money – much better late than never, right? – and while the trends look good for now, the fact is that America’s spending routines are still outpacing the development of the economy and we are still unstable with conserving.

The Bureau of Economic Analysis reported last month that travel and tourist spending enhanced throughout the first quarter of 2013, while personal income declined. And with conserving – our individual kryptonite – the fact is that we are still not conserving enough.

According to the Consumer Federation of America and the American Cost savings Education Council, numerous Americans do not have enough for retirement, in spite of being near retirement age, and others are reporting to be conserving less this year than they did last.

All in all, it excels that there are noted declines in loan delinquencies, but it’s not a sure sign of overall recuperation, and diligence when it concerns charge card is still essential. Americans are expected to produce a new $47 billion in credit card debt this year, so a small credit card delinquency rate drop is simply the start.