Consumers continued to pay off their credit cards at historically high rates in the third quarter, with the delinquency rate hitting an 18-year low, according to the American Bankers Association.

Consumer card delinquencies fell to 2.75% during the three-month period, a seasonally adjusted decline of 0.18 percentage points from the previous quarter, and their lowest level since 1994, the banking trade group found.

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.