Last week we looked at PayPal's annual payment volume over the last 10 years and how it's grown. This week's chart is a mashup of the US unemployment rate (the thin blue line - as provided by monthly by the U.S. Bureau of Labor Statistics) plotted on top of the revolving debt statistics (the red vertical bars - as provided monthly by the Federal Reserve).

US credit card issuers frequently talk about how credit card chargeoffs track the unemployment rate. I was curious as to how the absolute amount of revolving debt tracked unemployment. In this chart you can see revolving debt peaking a $1.2 trillion in 2008 before consumers began paying down revolving debt - and issuer's began charging off amounts from consumers who were defaulting on repayment.

Beginning in 2011, unemployment peaked and consumers began slowly adding to revolving debt again as employment began also improving.

Have you seen an interesting chart recently that opened your eyes to new insights? Please tell me about it! Email it to me: editor@paymentsnews.com

TransUnion has announced that "the national credit card delinquency rate (the ratio of borrowers 90 or more days past due) reached 0.78% in the fourth quarter of 2011, a drop of almost 5% from the same period one year ago and continuing well below historical norms. Average credit card debt per borrower increased $239 from the same period last year to $5,204, though it too remains near record-low levels."

Equifax reported today that nearly 60 of the top 100 metropolitan statistical areas (MSAs) hardest hit by credit card debt realized double-digit declines in the percentage of income owed to credit card companies -- up to 24% in some areas.

The reduction in U.S. consumer credit card debt began a steady decline in the fourth quarter of 2010 that continued through the end of 2011, as consumers remained cautious of their spending and focused on deleveraging debt. Consumers owed up to 17% of their income to credit card companies in 2010, according to Equifax's analysis.

TransUnion has announced availability of its quarterly analyses of credit-active U.S. consumers finding that the "national credit card delinquency rate (the rate of borrowers 90 or more days past due) decreased for the sixth consecutive quarter, dropping to 0.6% at the end of the second quarter in 2011. This is the lowest mark observed in 17 years. Credit card debt per borrower increased $20 in the quarter to $4,699, though it remains near record-low levels."

"Consumers, in general, are repaying their credit card debt in a timely manner, with delinquency rates in the first quarter of 2011 reaching levels not seen in almost 15 years" according to new data released by TransUnion.

TransUnion's quarterly analysis of trends in the credit card industry revealed that the national credit card delinquency rate (the ratio of bankcard borrowers 90 days or more delinquent on one or more of their bank-issued credit cards) decreased to 0.74% in the first quarter of 2011.

TransUnion released a study that "reveals the divergence in payment patterns -- where consumers are increasingly apt to pay their credit cards before their mortgages -- has now occurred for three straight years. However, for the first time since the deviation began, the percentage of consumers who are current on their credit cards and at least 30 days delinquent on their mortgage payments has declined."

On the wires:

• Guardian Analytics Secures $11 Million in Financing
• RedFin Network Releases P25-M Printer for iPhone, iPad, and iPod Touch

On the web:

• Wall Street Journal: U.S. Card Companies Shrug at China's Monopoly
• ReadWriteWeb: Bundle - Helping Consumers with Data from Twenty Million Credit Cards
• New York Times: Credit Card Data Tells Mixed Story
• TechCrunch: Cardpool Launches One Gift Card To Rule Them All
• ZDNet: Facebook Credits - Harder, Better, Faster, Stronger

Lending Club and PerkStreet Financial have announced the launch of a 'Shred Your Credit Card' contest.

The contest inspires consumers to end the cycle of credit card debt once and for all by destroying their credit cards. Rewards of up to $1,000* will go to the contestants who devise the most creative way to destroy their credit cards and share the video. Entries can be submitted and viewed at www.shredyourcreditcard.com.

TransUnion has announced the results of its quarterly analysis of credit card industry trends.

The national credit card delinquency rate (the ratio of bankcard borrowers 90 days or more delinquent on one or more of their credit cards) decreased to 0.83 percent in the third quarter of 2010, down almost 9.8% over the previous quarter. Year over year, credit card delinquencies fell by 24.6%.

The US Federal Reserve has reported its latest G.19 Consumer Credit statistics - finding that "in July, total consumer credit decreased at an annual rate of 1-3/4 percent. Revolving credit decreased at an annual rate of 6-1/4 percent, and nonrevolving credit increased at an annual rate of 1/2 percent."

Average consumer credit card balances in the U.S. are the lowest in eight years, according to TransUnion's quarterly analysis of trends in the credit card industry. The 2Q Credit Card Quarterly Statistics show that the national credit card delinquency rate (the ratio of bankcard borrowers 90 days or more delinquent on one or more of their credit cards) decreased to 0.92% in 2Q2010, down 17.1% over the previous quarter. Year over year, credit card delinquencies fell by 21.3%.

Experian has released its findings on credit card trends, which provide insight into U.S. card usage. The results show that "New Yorkers lead the way with the highest number of open cards, and Phoenix residents have the fewest. A closer look at New York reveals that while its residents have more open cards, the data shows they aren't using those cards as much as some of the other cities, such as Atlanta, where the highest average monthly balance is $6,753 on revolving accounts. San Francisco and Houston have the lowest average monthly balance, with $5,323 and $5,328, respectively."

The US Federal Reserve has reported its latest G.19 Consumer Credit statistics - finding that "Consumer credit decreased at an annual rate of 3-1/4 percent in the second quarter. Revolving credit decreased at an annual rate of 9-1/2 percent, and nonrevolving credit was about unchanged. In June, consumer credit decreased at an annual rate of 3/4 percent, revolving credit decreased at an annual rate of 6-1/2 percent, and nonrevolving credit increased at an annual rate of 2-1/2 percent."

The US Federal Reserve has reported its latest G.19 Consumer Credit statistics - finding that "Consumer credit decreased at an annual rate of 4-1/2 percent in May 2010. Revolving credit decreased at an annual rate of 10-1/2 percent, and nonrevolving credit decreased at an annual rate of 1-1/2 percent."

In an article titled "A Less-Noticed Challenge in the CARD Act", Maria Aspan writes for the American Banker about a provision included in CARD Act that recently took effect requiring credit card issuers to "refer cardholders to federally sanctioned counseling agencies." Aspan writes that "now that issuers have to comply, many are doing what they can to avoid creating the impression of favoritism."

A new study by TransUnion confirms that the "new" payment hierarchy -- where consumers pay their credit cards prior to their mortgages -- is continuing, with the trend occurring more readily than ever before. READ MORE »

In an article titled "Credit-Card Losses Underscore Challenges Facing Lenders", Aparapjita Saha-Bubna writes for the Wall St. Journal on the financial results reported by major US credit card issuers - noting that "the latest numbers indicate that consumers continue to struggle amid high joblessness, as delinquency rates, a key gauge of future losses, continue to rise for most card issuers."

Consumers continue to fight the recession by saving more and paying off debt, banks are responding with more careful lending, and stressed homeowners increasingly are falling behind on mortgages on their primary residence, according to the latest Equifax Credit Trends Report for September 2009. READ MORE »

The latest Federal Reserve G.19 Consumer Credit report is out for the month of August 2009 showing that consumer credit outstanding overall decreased at an annual rate of 5-3/4 percent in August 2009. Revolving credit outstanding decreased at an annual rate of 13 percent, and nonrevolving credit decreased at an annual rate of 1-1/2 percent. The rate of decline in revolving consumer credit is the steepest reported in several years.

The Federal Reserve is out with its latest G.19 Consumer Credit report for July 2009. According to the Fed, US consumer credit decreased at an annual rate of 10-1/2 percent in July 2009. Revolving credit decreased at an annual rate of 8 percent, and nonrevolving credit decreased at an annual rate of 11-3/4 percent.

In an article in tomorrow's Washington Post titled "Seniors Leaning on Credit", Nancy Trejos reports on the credit card debt burdens facing senior citizens - where balances have increased the fastest of any age group.

Trejos writes: "Complicating matters, many card companies have raised interest rates, fees and minimum payments recently in anticipation of a new law taking effect in February that will restrict such hikes. Older borrowers have been hit especially hard by such actions, consumer advocates said, because their incomes are fixed and their ability to get a job is limited."

The American Bankers Association’s Consumer Credit Delinquency Bulletin reported today that in the first quarter of 2009 that bank card delinquencies rose 23 basis points to 4.75 percent (s.a.) of all accounts, compared to 4.52 percent in the previous quarter. (The record was 4.81 percent in the second quarter of 2005.) The balances on those delinquent accounts rose dramatically, up 108 basis points to 6.60 percent (n.s.a.) of the value of all outstanding bank card debt, marking a new record. READ MORE »

Equifax has launched Debt Wise, a new product that uses information from the Equifax Credit Report to consumers to free themselves from debt--faster. According to Equifax, "Debt Wise effectively eliminates one of the biggest hurdles for many debt laden consumers -- getting started. Subscribers can create their personal debt payment plan online in as little as 10 minutes, in the privacy and comfort of their own home." READ MORE »

In an article titled "Suze Orman Is Having a Moment", Susan Dominus writes for Sunday's New York Times Magazine about the recent surge in interest in Orman's advice for consumers about credit card debt, etc. - and, in particular, consumer interest in her “Can I Afford It?” segment on CNBC.

Dominus notes: "Orman has strong opinions in general."

In an article titled "Weighing the Options with Credit Card Debt", Tara Siegel Bernard writes for Saturday's New York Times about the options available to consumers to deal with credit card debt.

The list of options she recommends isn't long:

1. Call your card issuer - and do it yourself. Issuers have alternative repayment plans available - but they may also reduce current credit limits to the amount of debt currently outstanding.
2. Find and work with a credit card debt counselor. A legitimate counselor should be able to negotiate a credit card debt management plan with the credit card issuer. Focus on finding a legitimate one.
3. Work with a debt settlement company - but be very, very careful.
4. Bankruptcy.

That's it. Have other suggestions - add your comments!

The Federal Reserve has published its G.19 Consumer Credit report for the first quarter 2009. Consumer credit decreased at an annual rate of 2 percent in the first quarter. Revolving credit decreased at an annual rate of 6-1/2 percent, and nonrevolving credit increased at an annual rate of 1 percent. In March, consumer credit decreased at an annual rate of 5-1/4 percent with revolving credit declining 6.8 percent.

TowerGroup is predicting that US branded total card credit losses will peak at $55.6 billion in 2009 because the recessionary economic conditions are making it difficult for consumers to repay credit card debt. TowerGroup's Brian Riley points out, however, that not all losses are the result of honest inability to pay, warning that intentional cardholder losses from abuse and fraud may cost the industry as much as $10 billion. READ MORE »

The latest G.19 Consumer Credit data for February 2009 released yesterday by the Federal Reserve shows a dramatic decline in revolving credit - declining at an annual rate of 9-3/4 percent for the month. Overall, consumer credit decreased at an annual rate of 3-1/2 percent in February 2009 and nonrevolving credit increased at an annual rate of 1/4 percent.

Credit card delinquencies and chargeoffs breached record levels last month as consumer credit quality deteriorated further in the worsening economic environment according to the latest Fitch Credit Card Index results. Despite the results, portfolio yields increased and excess spread levels remained robust, as remedial actions by credit card issuers are providing investors with a cushion against future losses and early amortization. READ MORE »

San Francisc-based GoalSpring has announced a major milestone following the December 2008 alpha launch of DebtGoal.com by passing the $100 million mark of consumer debt enrolled in its service. DebtGoal.com is "an easy-to-use, free online tool helping consumers with debt to create and manage a plan to pay it down." GoalSpring says it was founded out of a desire to break the mold of previous financial services companies that push products rather than help people achieve goals. READ MORE »