More Americans are falling behind on their credit card bills, with about 8.9% of balances in delinquency, indicating financial strain from higher prices and interest rates.
Maxed-out borrowers, using at least 90% of their credit limit, are a significant concern as they are more likely to fall behind on payments, particularly impacting the younger population and low-income neighborhoods.
Roughly half of credit card users carry balances from month to month, highlighting a division in the credit card market where those who pay in full contrast with those with persistent debt.
#credit-card-delinquencies #financial-strain #credit-limit-usage #generational-differences #monthly-credit-card-balance
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