U.S. Credit Card Delinquency Rates Reach Record Highs

Delinquency rates have surged across all stages, reflecting increased financial stress among consumers.

Nearly 3.5% of credit card balances were at least 30 days past due at the end of December, marking the highest delinquency rate since records began in 2012.
The increase in delinquencies comes amid high inflation and rising interest rates, exacerbating financial pressures on U.S. households.
A new federal rule caps credit card late fees at $8, potentially impacting revenue for retailers relying on such fees.
Credit card interest rates remain at a record high, with average APRs holding steady around 20.75%.
Legislative actions could influence future credit card regulations, as Congress considers overturning the new late fee cap.