US Consumer Credit Card Debt Surpasses $1 Trillion as Net Charge-Offs and Delinquencies Rise
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US consumer credit card debt surpasses $1 trillion as net charge-offs and delinquencies rise. Delinquency rates for auto loans, credit card debt, mortgages, and personal loans all increased, with the delinquency rate surpassing 1% for the first time since February 2020. The rise in delinquencies suggests potential economic stress, particularly for those in the Subprime credit tier. While balances remained high overall, they slightly decreased in February compared to January. Credit card delinquency rates reached their highest level on record in Q4 2023. Banks are encouraged by the slowing growth of delinquencies and expect the Federal Reserve to cut interest rates this year. #ConsumerCredit #Debt #Delinquencies #Economy...

#newstr #ConsumerCreditCardDebt #Delinquencies #NetChargeoffs #Visa #CreditTrends #EconomicStress #BorrowingActivity #CreditHealth #InterestRates #FederalReserve 

 https://here.news/story/89505000?ver=0.25