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Consumers Find Credit Trouble in November

Optimism around holiday spending, strength in the stock market for the second half of 2009 and wishful thinking about the economic climate aren't going to be enough to turn the situation around. And, there's more to the story than the 10% unemployment rate. Moody's Investor Services said Tuesday that more people fell behind on their credit card payments in November.

The charge-off rate on credit cards increased to 10.56% last month, according to the Moody's Credit Card Index. It had fallen in September and October, settling at 10.04% before ticking back up last month. Fortunately, this remains below the June level of 10.76%, a record high.

Continue reading Consumers Find Credit Trouble in November

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Last updated: May 27, 2012: 04:58 AM

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