Spending and Saving

America is On Time–with Credit Card Payments

Way back in 2009, we noted that Americans were–finally–learning to use credit wisely, and were paying off their balances on time.

Well, guess what, USA? You’re continuing to kick credit card butt. According to the American Bankers Association, late payments for bank-issued credit cards hit an eight-year low in the first quarter of this year.Just 3.8 percent of accounts were 30 days past due.

That could mean that more people are employed or people are keeping their spending more within their means—or both. Either way, they’re also avoiding the rapacious fees that can result from paying late. Happy Financial Independence Day.

Tags: credit cards, Spending and Saving