US Credit Card Debts Rise, More Americans Become Delinquent: NY Fed

The share of maxed-out credit card users is rising along with debt default rates.
US Credit Card Debts Rise, More Americans Become Delinquent: NY Fed
A customer uses a Bank of America ATM at a branch office in San Francisco, Calif., on July 14, 2021. Justin Sullivan/Getty Images
Naveen Athrappully
Updated:
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Credit card debts and delinquency rates among Americans increased in the first quarter of 2024, with newly delinquent individuals having a high median credit card utilization rate of 90 percent.

Household credit card debt in the United States rose by $129 billion over the past year, reaching $1.15 trillion as of Q1 2024, according to the latest data from the Federal Reserve Bank of New York. In Q1 2023, the share of credit card debt that was 90 days or more delinquent was 4.57 percent.
Naveen Athrappully
Naveen Athrappully
Author
Naveen Athrappully is a news reporter covering business and world events at The Epoch Times.