Credit cards: Share of balances 90-plus days late hits highest mark since 2011
Summary
In the first quarter of the year, over 13% of credit card balances were unpaid for 90 days or more. This is the highest level of late payments on credit cards since 2011.Key Facts
- More than 13% of credit card balances were at least 90 days past due in the first quarter.
- This is the highest rate of overdue credit card debt since 2011.
- Being 90 days late means people have not made payments on their credit cards for at least three months.
- A high rate of late payments can indicate financial difficulties for many credit card holders.
- This trend may affect lenders and the overall economy.
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