The delinquency rate for credit card accounts nearly or almost completely maxed out spiked to 33% in Q1 2024. Visa reports rare quarterly revenue miss, shares drop.

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The delinquency rate for credit card accounts that are “nearly or almost completely maxed out” did spike to 33% in Q1 2024. This is the highest rate in at least a decade and reflects significant financial stress among consumers who have heavily utilized their credit limits.

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Sources:

https://fred.stlouisfed.org/series/DRCCLACBS

https://www.newyorkfed.org/newsevents/news/research/2024/20240514?daily

https://www.usatoday.com/story/money/2024/05/15/credit-card-debt-delinquencies-inflation-interest-rates/73698401007/

https://fred.stlouisfed.org/series/DRCCLACBN

https://ca.finance.yahoo.com/news/visa-quarterly-profit-jumps-20-201131549.html


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