Consumers improve on timely bill payment

July 8, 2010 8:44:58 PM PDT
More consumers are paying their credit card bills on time.

Late payments on bank-issued credit cards fell to below 4 percent in the first quarter of this year. The American Bankers Association says that's the lowest rate in 8 years.

Consumers are also showing improvement in paying car and home equity loans.

Analysts say consumers are not borrowing and spending as much which makes it easier to keep up with payments.