Soaring unemployment and a shrinking economy drove delinquencies on credit card debt to an all-time high in the first quarter as a record number of cash-strapped consumers fell behind on their bills.

Fallout from a still deteriorating housing market caused the rate of consumer loan payments at least 30 days late to rise to 3.23% in the January-to-March period from 3.22% in the 2008 fourth quarter, the American Bankers Association said.