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Credit Card Delinquencies Hit Record High

Credit Card Delinquencies Hit Record High

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(KSL TV) Another sign of a trouble for the U-S economy. The latest numbers show credit card delinquencies are at a record high.

According to the American Bankers Association, nearly one in 20 people were late in paying their credit card bills in the fourth quarter of last year.

The 4.7-percent rate is seven-tenths higher than it was in the previous three months.

Economists attribute the delinquencies to high unemployment and a weak economic outlook.

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