Credit card delinquencies surge, almost 1 in 5 users maxed out: Research

New York Fed: Credit Card Delinquency Spikes as Costs Soar Under Joe Biden

Families racked up credit card debt and went into delinquencies at an increased rate since the pandemic, the New York Fed found Tuesday.

Credit card delinquencies surge, almost 1 in 5 users maxed out: Research

Credit card delinquencies are on the rise, as research from the New York Federal Reserve shows nearly a fifth of borrowers are “maxed-out.”

Americans add $184 billion in debt to start 2024; far more credit card accounts delinquent

In the last year, credit card delinquencies have increased by about 67% as more Americans are also behind in rent and car payments.

Nearly 1 out of 5 credit card users have maxed out on their borrowing

The Federal Reserve Bank of New York says a growing number of card user are falling behind on their monthly credit card bills. Fallout from years of rising prices and high interest rates.

More Americans are maxing out their credit cards and falling behind on payments

A report from the Federal Reserve Bank of New York released Tuesday reveals that the portion of national credit card debt held by borrowers who have maxed out their cards is nearing pre-COVID 19 levels. And what’s more, those maxed-out borrowers are going into delinquency at a much higher rate than they were before…Read more...

Credit card delinquencies rise as more Gen Z cardholders are maxed out, New York Fed research shows

While credit card balances edged down in the first quarter, more borrowers still fell behind on their card payments, the Federal Reserve Bank of New York found.