More Minnesotans making credit card payments on timeby Annie Baxter, Minnesota Public Radio
St. Paul, Minn. — Minnesotans are paying off their credit cards in an increasingly timely manner, according to a report from the research firm TransUnion.
The credit card delinquency rate for Minnesotans in the first three months of the year dropped to .54 percent. That rate was down by a third from the same time period last year and down by half from the peak in 2009.
On average, the total credit card debt carried per borrower in Minnesota was about $4,400 in the first quarter, down slightly from last year.
TransUnion reports that credit card delinquency rates were down around the country in the first three months of the year. The highest delinquency rates were found in Nevada, Florida, and Mississippi.