Per Lending Tree

The most recent Fed data showed that the number of Americans that were delinquent on their credit card payments increased by 0.18% compared to Q1 2023. This was for the people who had 30-day delinquencies.

The increase results in the third straight quarter for 30-day delinquency rates being above 2%. Credit card delinquencies are now at 2.43% from the previous 2.25% during the first quarter.

However, this was still way lower than during the Great Recession in 2009, when delinquencies reached a high of 7%. This came as the average APR for all credit cards during the second quarter of 2023 being at 20.68%.

In 2023, it was reported that the average card accruing interest during the second quarter of 2023 was at 22.16%.

In October, it was reported that Americans aged 18 to 29 had a 76% higher credit card delinquency rate compared to other age groups. During that time, credit card debt was close to a trillion all-time high at $930 billion.

In February, it was reported that the total number of credit cards in the US reached an all time high of 518.4 million cards. This came during the time when US credit card deb reached a record $930.6 billion.

See flow at unusualwhales.com/flow.

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