Credit Card Defaults Hit 2010 Low in December

New York, NY, Jan. 19, 2011 — Credit card defaults hit a low for the year in December, according to Fitch Ratings.

All six of the biggest card companies Tuesday posted their lowest rates for uncollectible accounts.

However, high unemployment makes it unclear if the trend will continue.

Card companies have also tightened lending standards, so people who lost access to credit during the recession have not been able to get new cards.