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- Total consumer debt swelled to $17.5 trillion in Q4, a $212 billion jump from the previous quarter.
- Delinquencies are rising among younger borrowers in particular, the New York Fed said.
- Younger borrowers have surpassed pre-pandemic levels of credit card delinquencies.
Younger Americans are falling behind on paying credit card and auto loans, with the rate of late payments rising above pre-pandemic levels in the last quarter, the New York Federal Reserve said in a report.
Our experts answer readers' credit card questions and write unbiased product reviews (here's how we assess credit cards). In some cases, we receive a commission from our partners; however, our opinions are our own. Terms apply to offers listed on this page.
Our experts answer readers' credit card questions and write unbiased product reviews (here's how we assess credit cards). In some cases, we receive a commission from our partners; however, our opinions are our own. Terms apply to offers listed on this page.
Insider Studios Year in Review 2023
Our experts answer readers' credit card questions and write unbiased product reviews (here's how we assess credit cards). In some cases, we receive a commission from our partners; however, our opinions are our own. Terms apply to offers listed on this page.
Our experts answer readers' credit card questions and write unbiased product reviews (here's how we assess credit cards). In some cases, we receive a commission from our partners; however, our opinions are our own. Terms apply to offers listed on this page.