CHICAGO (MarketWatch) -- U.S. consumers made more timely payments on retail and bank-card
credit balances in 2011, resulting in a significant reduction in the number of card write-offs over 2010 levels, according to
Equifax's latest National Credit Trends Report, issued Thursday. Bank credit card write-offs stand at 5.53%, representing a 39% decline from 2010 levels, while retail credit card write-offs are at 8.4%, representing a 26% decrease. "Declining write-offs, growing card originations and the stabilizing of card balances are a precursor to balance increases, which can help to return the banks to profitability in this lending sector," said Michael Koukounas, senior vice president of Special Client Services for Equifax , in a statement. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
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