Consumers Struggle with Card Payments in Juiced Economy

U.S. card late payers continue to creep upward to levels not seen since 2013 and running about 40 bps (basis points) above ratios reported five years ago. Delinquency among the Top 100 U.S. issuing banks in the third-quarter edged up 1 bps sequentially, and up 8 bps YOY (year-on-year). Nonetheless, the seasonally adjusted (SA) delinquency ratio is the highest since the first-quarter of 2013. Third-quarter card delinquency, among the nation’s top four credit card issuers, continued to march upward to its highest level for a . . . .

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