Credit card loans grew 1.6% in October, while 30+ day delinquency rates rose 0.16 percentage points. Currently delinquent consumers with annual household incomes of less than $50,000 were using an average of 80-90% of their available credit. These trends come as banks are further tightening consumer credit standards.
Credit Card Spending and Delinquency Rates Grow in October
Published on December 1, 2023
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