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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 ...
Average credit card interest rates increased from 12.9% in 2013 to 22.8% in 2023, according to the Consumer Financial Protection Bureau, costing consumers tens of billions of dollars, at least.
Aggregate delinquency rates increased during the first quarter to 3.2% of outstanding debt in some stage of delinquency, the highest since the fourth quarter of 2020, according to the New York Fed ...
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.
Collectively, Americans now owe a record $1.21 trillion on their credit cards, according to a new quarterly report on household debt from the Federal Reserve Bank of New York.
The share of credit card balances that are past due reached the highest level ever in the first quarter, according to data the Philadelphia Federal Reserve has tracked since 2012.
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 ...
The youngest Americans ages 18 to 29 had the highest credit card delinquency rates in the second quarter, according to the NY Fed. At least 8.8% were 90-plus days behind on payments, up from 8.5% ...