Credit Card “Delinquency Rates” Drop for 4th Month despite Confusion over NY Fed’s “Transition into Delinquency Rates” by Wolf Richter • Aug 9, 2024 • 84 Comments Measuring a level at month-end versus a flow over the past 12 months: Descend with us into delinquency geekdom.
Who Fell Behind on their Credit Cards: Delinquencies, Balances, Burden, Available Credit, and the “Maxed Out” by Wolf Richter • May 16, 2024 • 99 Comments Only 18% of credit-card holders maxed out their cards, less than before the pandemic, but fell behind at a higher rate.
Our Drunken Sailors’ Credit Card Balances, Burden, Delinquencies, and Available Credit by Wolf Richter • Feb 9, 2024 • 113 Comments Credit cards are the dominant payment method, from reimbursed business travel to ecommerce and bar tabs. And some people use them to borrow.
Credit Cards, the Biggest Payment Method: Balances, Burden, Delinquencies, Available Credit: How Are our Drunken Sailors Holding Up? by Wolf Richter • Nov 9, 2023 • 132 Comments Only 2% of credit card users are delinquent, according to new data from the New York Fed; 98% are current.
Our Drunken Sailors Still Not in Trouble with their Credit Cards by Wolf Richter • Aug 8, 2023 • 77 Comments Keeping an eye on them because some day enough of them will get in trouble to move the needle. But not yet.
With Stimmies Fading, Consumers Dip into Credit Cards for First Time since 2019, But Only a Little. Everyone’s Relieved by Wolf Richter • Jul 8, 2021 • 155 Comments No one wants consumers to pay off their high-interest credit cards, least of all banks, and consumers had threatened to do just that.
State of the American Debt Slaves: Fed “Confounded” as They Pay Down Credit Cards, Other High-Interest Debt, and HELOCs by Wolf Richter • May 13, 2021 • 137 Comments Forbearance Effect: Serious delinquencies of mortgages & student loans plunge to record lows because delinquent loans in forbearance don’t count as delinquent.
No Payment, No Problem: In Rosy World of Forbearance, Official Delinquencies Plunge, Credit Scores of Delinquent Borrowers Jump by Wolf Richter • Nov 18, 2020 • 141 Comments Credit-score algos got fooled by forbearance. Weirdest economy ever where no one knows what’s going on anymore.
As of Sep 21, “Credit Freezes” & “Unfreezes” Will Be Free for All Americans by Wolf Richter • Sep 18, 2018 • 35 Comments After the uproar about the Equifax hack, Congress did do something. And credit freezes are now a lot easier to place and lift.
Why Are So Few Customers Leaving TSB Bank Despite 21 Weeks of Mayhem? by Don Quijones • Aug 28, 2018 • 34 Comments The botched IT migration is still dogging customers of the UK lender.
