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In 2021, the proportion of credit cards whose owners failed to make timely payments hit a low point. It increased by 1.5 percentage points to 3.63 percent since then. According to Goldman analysts, the share will rise by a further 1.3 percentage points to 4.93 percent, with growth only slowing for the majority of issuers in late 2024 or early 2025.
Ryan Nash, the bank’s analyst, emphasized that the US economy is not in a recession, which makes the reported increase in credit card delinquencies unusual.
CNBC reports referring to data from the Federal Reserve Bank of New York, that the total amount of credit card debt held by Americans has reached a record high of more than $1 trillion.
source: cnbc.com
Ryan Nash, the bank’s analyst, emphasized that the US economy is not in a recession, which makes the reported increase in credit card delinquencies unusual.
CNBC reports referring to data from the Federal Reserve Bank of New York, that the total amount of credit card debt held by Americans has reached a record high of more than $1 trillion.
source: cnbc.com
