Financial service business have written off 50 percent more overdue credit card debts in the past year, after exhausted ...

In 2023, household credit card debt rose to $1.3 trillion, surpassing the pre-pandemic peak in 2029 which was $927 billion.

Fed Rate Cuts Won’t End the Sting of High Interest Rates for Subprime Cardholders ...

Brokerages have turned bullish on SBI Cards & Payment Services (SBI Card) as they expect a moderation in credit costs for the ...

US credit card defaults surged by 50% compared to the previous year, reaching levels not seen since 2010, according to data ...

Credit card balances soared, rising a combined $270bn in 2022 and 2023, and pushing the total US consumers owed on credit cards above $1tn for the first time in mid-2023. That spending along with ...

In a recent SEC filing, Citigroup Inc.’s C subsidiary, Citibank N.A., disclosed a rise in its credit card trust delinquency and net charge-off rates for November 2024 compared with October 2024.

The sharp rise in defaults is a sign of how consumers ... in consumers’ cards that is at least one month overdue. Credit card delinquency rates, which are seen as a precursor to write-offs ...