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The significant increase in delinquency represents the challenge many Americans face — especially those resigned to higher rates due to poor credit. As subprime borrowers struggled to make the ...
At the same time, credit card delinquency rates “remained elevated,” the New York Fed researchers found — with 7.18% of balances transitioning to delinquency over the last year. That uptick ...
“In the first quarter of 2024, credit card and auto loan transition rates into serious delinquency continued to rise across all age groups,” Joelle Scally, regional economic principal within ...
Although consumer rates of credit card delinquency are at record levels, credit card exposure will not be a problem on the scale of subprime mortgages. But that's not to say that credit cards are ...
The share of credit card debt that’s severely delinquent, defined as being more than 90 days overdue, rose to 10.7% during the first quarter of 2024, according to the Federal Reserve Bank of New ...
Credit card delinquency rates jumped across the board, the New York Fed and TransUnion found. Credit card delinquencies surged more than 50% in 2023, the New York Fed reported.