US credit card delinquencies are surging:
The share of credit card balances at large banks 30+ days past due reached 3.40% in Q1 2025, the third-highest in at least 13 years.
The share of balances 60+ and 90+ days past due hit 2.47% and 1.77%, near record highs, according to the Philadelphia Fed.
Concerningly, the net charge-off rate rose to 5.99%, the highest since at least 2012.
The share of credit card losses relative to total outstanding credit card loans at large banks has TRIPLED since Q3 2021.
Meanwhile, the average credit card rate just hit 24.62%, the highest on record.
Americans are drowning in credit card debt.
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The share of credit card balances at large banks 30+ days past due reached 3.40% in Q1 2025, the third-highest in at least 13 years.
The share of balances 60+ and 90+ days past due hit 2.47% and 1.77%, near record highs, according to the Philadelphia Fed.
Concerningly, the net charge-off rate rose to 5.99%, the highest since at least 2012.
The share of credit card losses relative to total outstanding credit card loans at large banks has TRIPLED since Q3 2021.
Meanwhile, the average credit card rate just hit 24.62%, the highest on record.
Americans are drowning in credit card debt.
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NEW - AG Pam Bondi orders charges to be dropped against Dr Kirk Moore accused of destroying COVID vaccines, issuing fake vaccine passports and injecting saline into children instead of the Mrna vaccine.
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JUST IN - FBI Director Kash Patel says the conspiracies are not true and he will continue to serve Trump for “as long as he calls on me.”
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The sudden turn of the administration and the lack of empathy for the voter base is mesmerizing.
Kash himself was into the “conspiracies” until the deep state took over in Washington again.
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Kash himself was into the “conspiracies” until the deep state took over in Washington again.
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