Consumer

Share of US Credit Cards Past Due Climbs to Highest Since 2012

Philadelphia Fed data show picture worsened in first quarter
Percentage of credit card balances past due now at series high

Some 2.6% of credit card balances were 60 days past due in the first quarter, according to data published Wednesday. — Some 2.6% of credit card balances were 60 days past due in the first quarter, according to data published Wednesday.
Photographer: Chris Ratcliffe/Bloomberg

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By Catarina Saraiva

July 24, 2024 at 4:31 PM UTC

This article is for subscribers only.

The share of credit card balances past due reached a series high in Federal Reserve Bank of Philadelphia data back to 2012, adding to a variety of figures indicating emerging fissures in the US economy.

Some 2.6% of credit card balances were 60 days past due in the first quarter, according to data published Wednesday. That’s up from a low of 1.1% reached in 2021, when consumers were bolstered by pandemic-era support programs.