Mississippi residents had the highest credit card delinquency rate in the nation in the fourth quarter (Q4) of 2012, TransUnion said in a recent report.
According to TransUnion’s most recent analysis of credit card debt, originations and delinquency rates, which is conducted nationally on a quarterly basis, three southern states led the “most delinquent” list: Mississippi, Alabama and Georgia.
Mississippi came in with a credit card delinquency rate of 1.41 percent in Q4, followed by Alabama (1.16 percent) and Georgia (1.12 percent). The state of Nevada also had a 1.12 percent delinquency rate in the quarter.
The overall national credit card delinquency rate in Q4 was 0.85 percent.
On a yearly basis, 39 states (plus the District of Columbia) experienced increasing credit card delinquency rates in Q4, nine states experienced decreases, and the remaining two states stayed relatively even.
North Dakota residents led the way in Q4 with the lowest delinquency rate in the nation – 0.41 percent.
Residents of Montana had the second-best credit card delinquency rate (0.53 percent), followed by Minnesota (0.54 percent) and Utah (0.57 percent).
Two-thirds of all metropolitan statistical areas (MSAs) experienced improvement in credit card delinquency rates in Q4 2012 on a yearly basis. The previous quarter, 64 percent of MSAs saw improvement.
TransUnion predicts that credit card delinquencies will decrease slightly on a national level in the first quarter (Q1) of 2013.