Credit card delinquency rates hit worst level since 2012 in new Fed data

Americans are drowning in credit card debt. New data published by the Federal Reserve Bank of Philadelphia shows that a growing number of Americans are struggling to make their monthly credit card payments as they continue to battle high inflation and interest rates.All stages of credit card delinquency — 30, 60 and 90 days past due — rose during the fourth quarter of 2023 to the highest level since 2012, when the Fed began tracking the data. The researchers noted that it is typ