More consumers are making their credit card payments on time, as the delinquency rate on credit cards dropped in the second quarter to one of its lowest levels since 1994.

TransUnion reported the percentage of credit card borrowers at least 90 days past due dropped to 0.63% in Q2 2012, compared with 0.73% in 1Q12. The delinquency rate is at its lowest level since the second quarter of last year, when it was 0.60%. Prior to 2Q11, the last time the delinquency rate was below its current level was 1994. 

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