I know we’ve talked about this topic from various angles, but the updated date below is extremely alarming! We are at the highest Highest YoY rise in Credit Card Delinquency Rates. So what comes next?

Below, you'll find a chart showing the year-over-year (YoY) change in credit card delinquency rates. As of Q3 2023, the YoY change stands at 43%.

This rapid rise has never occurred.

Credit card delinquency rates are currently at 3%. To find a similar level, you have to go back to Q2 2012.

This metric is important to monitor because it typically rises during times of economic instability. A rise in delinquency rates for credit cards signals that some Americans are struggling to make their payments.

Notably, credit card debt is commonly the first debt-type to see a rise in delinquency rates due to Americans placing a higher priority on mortgage payments.