After struggling for the last two years, credit card borrowers appear to be turning the corner, according to recent VantageScore CreditGauge data.

There’s reason to be cautiously optimistic,” said Susan Fahy, Chief Digital Officer at VantageScore. Susan spoke with American Banker and shared CreditGauge findings indicating consumer delinquencies declined in April 2024 for a second consecutive month.

Late payments on credit cards aren’t rising much and are even declining at some major card companies, according to recent CreditGauge data. And while cardholders’ balances are continuing to rise, their growing incomes mean they’re better able to keep up with payments.

As of April 2024, some 1.35% of credit card balances had late payments of at least 30 days, according to VantageScore CreditGauge tracker. That figure has dropped in recent months, bucking the general trend of increases that started in 2021.

To access the latest CreditGauge insights, visit CreditGauge.

Read more here: American Banker