Credit Card Deliquency Rates Rise To Pre-Lockdown Levels As Inflation Takes Hold
Credit card deliquency rates have risen by nearly one third back to the longer term pattern established before lockdown according to an analysis from Standard and Poors Global.
“The January average delinquency rate for the six card issuers was up from 1.36% in December 2023, and from 1.05% a year ago.”
As stimulus payments waned and inflationary price pressures continued to extend across essential categories like housing, deliquency and loss rates continued to rise in line with long term pressures.
The availability of consumer credit is a key economic indicator for many markets and organizations throughout the economy. Check back often for more information and analysis on this emerging story.
The Association of Western Employers is dedicated to helping employers of all types to create career building job opportunities while helping employees develop those careers because every American deserves the opportunity for a great career.