Late credit card payments spiked in the third quarter, according to credit reporting agency TransUnion.
The agency said on Thursday that the rate of late payments 90 days past due was 1.36 percent in the July to September quarter, up from 1.27 percent in the previous quarter.
TransUnion says the rise is due in part to seasonal factors.
“The credit card delinquency rate typically rises in the third quarter, partly because of back-to-school spending,” said Toni Guitart, director of research at TransUnion.