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dow2664 Credit Card companies like American Express, Capitol One Financial Corp., and Discover Card Financial reveal that their respective credit card users might have trouble making payments on their credit card balances. According to government statistics, the number of people utilizing credit is slowly moving higher. Although the number of Americans that are utilizing credit cards as a way of financing is increasing, the overall balance that Americans retain is less than the average balance prior to the debt crisis in America. That being said, reports posted from several top credit card issuers this week that delinquent payments rose during the month of September. This is noteworthy since there are many on Wall Street that remain concerned that America is positioned to experience another economic recession. The unemployment rate remains above 9.1 percent and the delinquent credit card payments are additional signs that Americans are having trouble making the money needed to pay daily expenses. According to the reports that posted this week, Capitol One Financial Corp. credit card users had the hardest time making payments on time in September. American Express credit card users also experienced an uptick in payment difficulty which accounted for a noteworthy increase in delinquencies for September. Bank of America credit card users still had the highest delinquency rate overall. Investors will keep a close eye on the late payment rates in October to determine if the negative action continues for the major credit card companies. Stephen Johnson
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