Delinquencies and Minimum Payments Hit New Highs in 2024

Americans Are Carrying Bigger Credit-Card Balances
Americans are spending more on credit cards and carrying bigger balances month to month, with interest rates hovering near record highs.
A record number of consumers are making minimum credit cards payments as delinquencies also rise
Consumer stress has intensified, with an escalating share of credit card holders making only minimum payments on their bills, according to a Philadelphia Federal Reserve report.
Consumer Stress Soars As Minimum Credit Card Payments Hit 12-Year High
Consumer stress escalates as the share of credit card holders making only minimum payments hit a 12-year high in the third quarter of 2024. The share of credit card holders making minimum payments rose over 10%,
More People Are Making Just the Minimum Credit-Card Payment, Says Capital One
More customers are making just the minimum payment on credit-card balances instead of the full amount each month, said Capital One Chief Executive Richard Fairbanks, during the lender's earnings call.
More People Are Only Paying The Minimum Payment As Credit Card Balances Rise
Higher interest rates that increase borrowing costs appear to be creating a growing financial strain on consumers.
Rising Credit Card Strain: Delinquencies and Minimum Payments Hit New Highs in 2024
One of the most striking trends from the third-quarter data is the rise in the share of active credit card holders making only minimum payments. This figure has surged to 10.75%, the highest level recorded since tracking began in 2012.
Capital One Q4 Earnings: Encouraging Credit Trends Justify The Stock Rally
Capital One Financial shares gained 57% over past year, driven by strong Q4 results and hopes for easier regulatory approval.
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