The share of credit card borrowers who are at least 90 days past due on their accounts will probably tick up to 2.01 percent next year, the highest level since 2010, according to a forecast by TransUnion, Bloomberg News reported. Still, the credit-rating company said that the increase isn’t a cause for concern, noting that bad card debt still remains much lower than the level seen during the last recession. The number of people with access to revolving credit reached a record 200.5 million in the third quarter. That figure was helped by private-label credit card originations, which reversed a 10-quarter slump by posting 2.4 percent growth, according to TransUnion. Major card issuers including American Express Co. and Discover Financial Services have warned they’ve begun to tighten their credit standards in anticipation of a potential economic downturn. Still, lenders say that their customers have continued to keep up with their bills as the U.S. unemployment rate remains near historic lows.
