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> Credit card delinquency rates... remain nearly a percentage point higher than they were on average in the year before the pandemic. Just another journalist t
by BJones12 2y ago
> Credit card delinquency rates... remain nearly a percentage point higher than they were on average in the year before the pandemic.
Just another journalist trying to scare you. All that happened is bad debt rose 1% compared to 5 years ago.
- KingOfCoders 2y ago1pp != 1%
- add-sub-mul-div 2y agoGoing from 5.2 to 6.1 is a 17% increase, which isn't insignificant.
- n144q 2y ago1. The title still isn't wrong. 2. What does 1% mean in context?
- yieldcrv 2y agoLooking at the velocity of how we got to this level is absolutely noteworthy
- blueelephanttea 2y agoNot only that, but the headline is a non-inflation adjusted value! We're still well below the peak of 2010! We might be on the cusp of a collapse, but the media (and HN commentators!) continue to predict 3465 out of the last 2 recessions.
- piva00 2y agoI mentioned to another comment, you're correct about the figure amount but the concerning part is: > Credit card lenders wrote off $46bn in seriously delinquent loan balances in the first nine months of 2024, up 50 per cent from the same period in the year prior and the highest level in 14 years