Go Finance Reporting in NEW YORK - The rise of credit card cases in Indonesia is not the same situation in America. In the land of Uncle Sam, the person paying credit card bills on time in March.
This has become one of the positive signs of the banking sector in a month that has proven stable in recent years for the country's economy.
Quoted from the Associated Press on Saturday (04/16/2011) six major companies in the U.S. credit card they are Chase, Bank of America, Citibank, Capital One, Discover, and American Express said the juvenile industry is at its lowest point since 2008.
Overall, the rate of charge-offs of this industry reached its peak in the second quarter of 2010 are approximately 10.9 percent of sales. Then in the fourth quarter of 2010, fell to 7.7 percent.
Moody's credit analyst Jeff Hibss rate reduction this crime as one good sign. "We see this year," he said.
While Bank of America Corp. and Discover recorded the largest increases in rates they charge. Where cost is still the highest among the card issuer that is equal to 8.18 percent. American Express has the lowest rate at 3.7 percent.
In February, revolving debt held by U.S. consumers, mostly from credit cards, amounting to approximately USD794, 03 billion and become the lowest point since September 2004. In August 2008, total credit card debt stand at USD97, 364 billion.
(GoFinance)
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