Jun
12

Crummy Cards

Credit card delinquency rates hit 8.1% in 19Q1, the highest rate in years. While rates are rising slowly for card holders over 30, rates are up sharply for those 18-29. Highest interest rates in decades are partly to blame, but the Card Act of 2009 caused a steep decline in accounts among those 18-29. Since bottoming in 2012, credit card prevalence in that group has steadily risen, along with defaults.

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