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Credit card delinquency rate is rising

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Credit card delinquency rate is rising

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Re: Credit card delinquency rate is rising

According to the Federal Reserve Bank of New York, credit card and auto loan transitions into delinquency have been rising above pre-pandemic levels. This increase in delinquency signals increased financial stress, especially among younger and lower-income households. In the fourth quarter of 2023, approximately 8.5% of credit card balances transitioned into delinquency on an annualized basis. 

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