2024-04-21 22:46:43
The share of credit cards in the United States whose owners were 30 days or more late on mandatory payments was almost 3.5% in the fourth quarter of 2023, which is the highest level in the history of statistics, that is, since 2012. As Day.Az reports, this is stated in the official report of the Federal Reserve Bank of Philadelphia.
The figure was up about 30 basis points (bps) from the previous quarter. In addition, the share of accounts making only minimum payments increased by 34 bps. and also updated the record.
Americans have become more active in using credit cards amid high inflation and rising costs of living. Thus, the debt of about 10% of cardholders exceeded $5.2 thousand for the first time in the fourth quarter, and about a quarter for the first time exceeded the $2 thousand mark.
However, only a third of cardholders fully pay off their debt each month, the report says.
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