Delinquent and defaulted credit card debt less common in November

The total amount of delinquent credit card debt slipped for the 13th month in a row, to 4.38 percent in November, down from 4.51 percent the month prior, according to the latest statistics from Moody's Investors Service. This wasthe lowest level observed since December 2007. In particular, early-stage delinquencies – those between 30 and 59 days behind, which are viewed as a forecaster for future charge offs – slipped to 1.14 percent, close to an all-time low.

Meanwhile, the rate of credit card debt that had to be stricken from lenders' books entirely dipped as well, to 8.58 percent in November from the previous month's 8.79 percent, the report said. That was the lowest rate observed since August 2009.

Consumers have had a better time paying their credit card bills in recent months. However, some analysts believe the continual drops in delinquent and defaulted credit card debt may be due to the fact that many consumers having already defaulted, they have effectively locked themselves out of the borrowing system altogether.