Credit Card Delinquency at All-Time Low

Jun 7, 2022 | Finconomics 101

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Credit Card Delinquency Data

Summary: With consumer debt at an all-time high (as outlined in our previous post), we would expect to see a high credit card delinquency rate as well. Rather, we find credit card delinquencies are also at all-time lows during a time of unprecedented inflation highlighted by gas prices approaching $5/gallon and sky rocketing food costs. It seems that consumers have become reliant on using credit cards to pay for out-of-reach necessities as they defer purchases on items like TVs and outdoor furniture as Target recently reported. Cash strapped consumers are prioritizing minimum monthly credit card payments which are still affordable for the time being…

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Disclaimer of Liability: Although the information in this post has been obtained from sources NBE Media LLC believes to be reliable, NBE does not guarantee its accuracy. The views expressed herein are subject to change without notice and in no case can be considered as an offer or solicitation with regard to the purchase or sales of any securities. NBE Media LLC’s analyses and opinions are not a guarantee of the future performance of the economy nor any industry, company or security. NBE Media LLC disclaims all liability for any misstatements or omissions that occur in the publication of this post. In making this post available, no client, advisory, fiduciary or professional relationship is implied or established. While this post is intended to provide an relevant economic analysis, it cannot be used as a substitute for independent investigations and sound business judgment.

      

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