Rising Credit Card Strain: Delinquencies and Minimum Payments Hit New Highs in 2024

In the third quarter of 2024, a series of concerning trends in U.S. consumer credit card usage have emerged, according to a recent report from the Philadelphia Federal Reserve. As rising interest rates and inflationary pressures continue to weigh on households, the share of credit card holders more than 30 days past due has increased, and the number of people…