All articles tagged with #credit card delinquency
Originally Published 5 months ago — by Bloomberg.com
Rising delinquencies on credit cards and auto loans among high-income Americans signal vulnerabilities in the US economy, driven by slowing hiring, high interest rates, and increased financial stress, especially among white-collar workers, despite overall debt levels decreasing relative to GDP.
Originally Published 1 year ago — by WEAR
Delinquencies on credit card payments have reached their highest level in over a decade, contributing to a rise in household debt surpassing $17.5 trillion. Factors behind the rise in debt include optimism in the economy, inflation, and increased expenses for food, gas, and housing. Younger generations are particularly affected, with their rate of credit card debt increasing faster than older generations. Financial experts advise cutting expenses and increasing income to tackle the problem.