Credit card delinquencies reach alarming levels, surpass pre-pandemic figures

Credit card delinquencies are rising and surpassing pre-pandemic levels.

Credit Card Delinquencies on the Rise, Surpassing Pre-pandemic Levels

Credit card delinquencies have surged in the third quarter of last year, reaching levels beyond those seen before the pandemic struck. This development is concerning but not entirely unexpected, given the robust consumer spending witnessed recently, much of which has been financed by credit cards.