With inflation at record levels, a potential recession looming, and the employment market tightening, 2023 is poised to be a bumpy ride for consumers. A new report from TransUnion underscores this point—projecting that credit card delinquencies will reach serious levels in the coming year, potentially rising to rates not seen since 2010.
At the same time, new credit cards will be opened at a much higher rate than at any time in the past decade in 2023. And this too, may be linked to a potentially challenging year ahead.
