Credit card delinquencies on the rise

>Americans now owe $1.12 trillion on their credit cards, the Federal Reserve Bank of New York reported Tuesday.
>The average balance per consumer stands at $6,218, up 8.5% year over year, according to a separate quarterly credit industry insights report from TransUnion
> credit card delinquency rates are higher across the board, the New York Fed and TransUnion found. Over the last year, roughly 8.9% of credit card balances transitioned into delinquency, the New York Fed reported.
>According to TransUnion’s research, “serious delinquencies,” or those 90 days or more past due, reached the highest level since 2010
>Overall, an additional 19.3 million new credit accounts were opened in the fourth quarter of 2023, boosted in part by subprime borrowers looking for cards with higher limits, according to Wise. Subprime generally refers to those with a credit score of 600 or below, according to TransUnion.

https://archive.is/n57XL

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  1. 1 month ago
    Anonymous

    Keeping all cash in investments, just not paying that debt off

  2. 1 month ago
    Anonymous

    Only in the US you will see this shit.
    I'd be ashamed if i had like 1€ of debt.

    • 1 month ago
      Anonymous

      and this is why euros are so poor, seriously I just saw your salaries and you might as well be Mexicans for the amount you all make.

      • 1 month ago
        Anonymous

        derp, we are poor because we have less debts.
        American education right here.

        • 1 month ago
          Anonymous

          Stop coping, America will always be better than your muslim infested society

          • 1 month ago
            Anonymous

            How in frick are you gonna criticize Europe for having too many Muslims? I live in a red state and have never seen so many beady-eyed foreigners milling around in my life. White non-Latinos are 59% of the population. Wake up big dog, we're being raped with taxes to pay for people who want us dead.

        • 1 month ago
          Anonymous

          We also don't go bankrupt on unexpected bills.

        • 1 month ago
          Anonymous

          Yes, debt is a tool to make more money.

          It's why you are poor, yes.

          • 4 weeks ago
            Anonymous

            this, i borrowed some BTC when it was 71k and sold it for usd, if i wanted to repay my BTC debt i could repay it for way cheaper now that bitcoin is 66k

    • 1 month ago
      Anonymous

      Debt is perfectly fine for cash flow operations or if you're investing in an appreciating asset like real estate or a well-functioning business.

      • 1 month ago
        Anonymous

        no it's not and has never been until the israelites took this country over

      • 1 month ago
        Anonymous

        Only the land appreciates, the building sitting on it depreciates

        • 4 weeks ago
          Anonymous

          Depends on the building but even so, so what? The land will appreciate faster as long as you're not buying top of the market.

          no it's not and has never been until the israelites took this country over

          This is a low IQ post by an Ellis Islander at best, more likely you're Latino.

    • 4 weeks ago
      Anonymous

      what is money really? i will give you 2 apples now, but you need to give them back in 2 weeks and 1 extra as interest, eats 2 apples, frick you homosexual

  3. 1 month ago
    Anonymous

    Debtmaxxers winning

    • 1 month ago
      Anonymous

      When "the event" happens, you'll lose almost everything and then even more.

  4. 1 month ago
    Anonymous

    ahhh geez dude i think i can pay, like, $2

  5. 1 month ago
    Anonymous

    >pay your FRICKING debt back goy

  6. 1 month ago
    Anonymous

    Time to long sofi

    • 1 month ago
      Anonymous

      Why?

  7. 1 month ago
    Anonymous

    debt collectors who send guys to knock on your door are going to be hiring like crazy now

    • 1 month ago
      Anonymous

      Hahahaha never gonna happen I heard a dude today say they gonna have to get it back in blood

  8. 1 month ago
    Anonymous

    I have never ran a balance in my entire life.

  9. 1 month ago
    Anonymous

    Clad this thread exists. What's the best credit card right now and what's worth prioritizing? Long 0% intro period or higher cash back? Was thinking about this card, but it's Wells Fargo

    https://creditcards.wellsfargo.com/active-cash-credit-card/?FPID=0126D7IDF40000&product_code=CC&subproduct_code=AC&cx_nm=CXNAME_CSMPD_MC&sub_channel=WEB&vendor_code=IA&lang=en&placement_id=small_primary&offerid=c_ccd_findcreditcardrspv_smlprimary&slotid=wf_con_hp_smlprimary&linkloc=hp&offertype=tk1&RCTTST=DHKOBZX

    • 1 month ago
      Anonymous

      Chase Sapphire. Best rewards and cashback, which is all that really matters.

      • 1 month ago
        Anonymous

        good goy keep consooming

        • 1 month ago
          Anonymous

          >quit buying food goyim
          >quit buying gas goyim
          >quit buying guns and ammo goyim
          How about no

          • 1 month ago
            Anonymous

            What kind of moron buys food and gas with a credit card? You're barely getting anything back in reward points and you're also simultaneously expanding the money supply and further devaluing your currency.

          • 1 month ago
            Anonymous

            the kind that has to pay food prices in the year 2000+ 24

          • 1 month ago
            Anonymous

            >he doesnt dive in dumpsters for free food
            ngmi

          • 1 month ago
            Anonymous

            food isn't even that much if you're not a fat frick buying junk food and know how to cook

          • 1 month ago
            Anonymous

            Do you not buy groceries? Why is your method of paying better?

          • 1 month ago
            Anonymous

            He probly just pays in cash to feel 'off the grid'

          • 4 weeks ago
            Anonymous

            maybe people should be thinking more about how much money they are giving to Ukraine, right?

          • 4 weeks ago
            Anonymous

            I'm guessing that you don't eat organic

          • 1 month ago
            Anonymous

            The smart kind. 2% back is better than 0% back. I have no incentive to pay in cash.
            >you're also simultaneously expanding the money supply and further devaluing your currency
            First, no I’m not. Second, my entire lifetime of using a credit card is a drop in the bucket. The entirety of the country using credit cards is nothing compared to trillions created at a drop of the hat because the Fed wanted to.
            >inb4 you think I carry a balance month to month Iike a Black person

          • 4 weeks ago
            Anonymous

            >devaluing your currency
            >your
            speak for yourself, nocoiner

          • 4 weeks ago
            Anonymous

            NTA but 3% back and you can just pay it off every time you get paid. I exclusively use my checking account to pay off my reddit lard every two weeks.

        • 1 month ago
          Anonymous

          Credit purchase $50 for gas and groceries
          Pay $50 on credit card
          Get $2.50 for free
          Repeat for all purchases and spend less than I earn

          Money is meant to be exchanged, and people need to purchase things like gas and groceries. Are you trying to imply that all credit card use is bad?

          • 1 month ago
            Anonymous

            Yes because he’s a moronic child who doesn’t pay for his own things

          • 1 month ago
            Anonymous

            sapphire doesn't give you 5% back on groceries / gas. unless you're talking about those rolling offers that you have to keep activating? for groceries and gas, you want blue cash preferred

          • 1 month ago
            Anonymous

            Just used example figures. Costco (Citi) credit card give 4% back on gas. Sapphire gives multiplied points depending on what you purchase. So it still stands: using credit cards responsibly gives you free money.

          • 1 month ago
            Anonymous

            $2.50 reward isn't free moron.

          • 4 weeks ago
            Anonymous

            Oh he’s back. Why didn’t you explain how you buy groceries and why that’s better? After that, please explain why the reward is free to the user

      • 1 month ago
        Anonymous

        >annual fee
        lmfao no way

      • 4 weeks ago
        Anonymous

        >annual fee
        Trash.

    • 1 month ago
      Anonymous

      like the 2% Fidelity me

    • 1 month ago
      Anonymous

      I have that one and like it

    • 4 weeks ago
      Anonymous

      >Long 0% intro period or higher cash back?
      Cash back. Unless you already have a 2% everything card.

      2% everything card (WF active cash/ Citi double cash)
      3% from grocery stores & restaurants (capital one savor)
      Prime Visa if you use Prime

      Simple as.

  10. 1 month ago
    Anonymous

    Most credit card debtors have over $10k across multiple cards. The average isn't telling how bleak it actually is. These people also have auto loans, home loans, student loans, etc. I am one of the zero debt havers bringing down the average.

    • 1 month ago
      Anonymous

      Isn't that misleading though? The average credit card debt could be $100,000 paid in full each month with borrowers "falling behind on debt" having less than $100 average and you could say that.

      Or the situation could be like this.

      Frick the CNBC giving misleading headlines.

    • 1 month ago
      Anonymous

      same I pay cash for everything. no credit cards, no auto loan, no cell phone installments, no mortgage. zoomers get really uncomfortable when I pay in cash and count my change.

      • 1 month ago
        Anonymous

        You’re moronic, you could be receiving 2% cash back for free if you had monetary sense and used a credit card. All you have to do is pay it off, and it’s literal free money. I use autopay and my bank account has $20,000, so it’s literal FREE MONEY but you low-IQ morons think “credit bad.”
        You child. Imagine being a grown adult and not owning a credit card, embarrassing.

        • 4 weeks ago
          Anonymous

          >2%
          With the write mix of cards you can get 3-5% easily by using each card for different categories. I have Chase Sapphire for travel/dining, Amex for gas, groceries, and online purchases, and Citi Double Cash for everything else.

  11. 1 month ago
    Anonymous

    >having credit card debt
    I don't understand how people can live like this.

    • 1 month ago
      Anonymous

      I'm trying to put myself in their headspace. Celsius Network is currently sueing me for about $1 million in bankruptcy clawbacks but they have a fake name and fake address on file for me so I have been completely ignoring their emails to see what actually happens while they escalate for months. Out of sight, out of mind. I have to imagine people who live with carred credit debt think something like this.

      • 1 month ago
        Anonymous

        >Celsius Network is currently sueing me for about $1 million

        go on

  12. 1 month ago
    Anonymous

    Some people need to be sat down and told that credit cards are for floating money you already have in your bank account to earn cash back.
    Adults (not teenagers, not children) literally swipe their card assuming they will figure out how to pay the credit card later.
    If you only knew how dumb the average "human" really is.
    Then again, there are also more and more debtmaxxers who don't believe in society at all, who pay for literally nothing.

  13. 1 month ago
    Anonymous

    whenever headlines say "average", am I supposed to assume "median", because if not then these headlines are scams

    • 1 month ago
      Anonymous

      Underrated post.

  14. 1 month ago
    Anonymous

    Do people actually just let the automatic monthly payment happen on their debt? I just pay my shit off at the end of the week

  15. 1 month ago
    Anonymous

    How do I get a bank to lend to a business so I can carry the debt away from my SSN

    • 1 month ago
      Anonymous

      Use the TIN instead of your SSN you dumbass

      • 1 month ago
        Anonymous

        Yeah but like, do I just transfer assets and say my company owns them and then try to borrow with it, or how does it work

  16. 1 month ago
    Anonymous
  17. 1 month ago
    Anonymous

    >mfw imma debtmaxx $123,500 in ebay gold and then just quit paying.

  18. 1 month ago
    Anonymous

    People that are indebted whom rack up interest on their credit cards probably deserve it. There’s ways to mitigate the crazy interest that comes with those cards by doing a balance transfer to other credit cards. It’s insane to me how little people know about this type of shit. Every time I bring up what a balance transfer is I get looked upon like I’m Jesus or something. The average person is literally braindead.

    • 1 month ago
      Anonymous

      i'm on my 9th balance transfer

      • 1 month ago
        Anonymous

        How much available credit do you have total?

      • 1 month ago
        Anonymous

        I filed bankruptcy to get myself out of massive credit card debt, all my crypto and investments are in my moms name so didn’t have to give away anything, it’s free money

        based

        Underrated post.

        saved

  19. 1 month ago
    Anonymous

    hahahah im just not gonna pay it back is all uggghhhh hanahaha

  20. 1 month ago
    Anonymous

    >jews create way to easily borrow money
    >charge companies for accepting said payment method
    >companies raise prices accordingly
    >jews incentivize consumers by offering them a portion of the profit
    >consumers thank the israelites for their generosity
    >consumers are still in a net loss but think they're outsmarting the israelites
    >jews make even more when consumers fall behind on payments
    they truly are the master race

  21. 1 month ago
    Anonymous

    >throw 10k into 12 month boomer deposit (CD)
    >max out 10k 0% intro APR goy card
    >pay off goy card when boomer deposit matures
    I'll make like $500.
    Seethe kites

  22. 4 weeks ago
    Anonymous

    question for one post OP

    how do I make money off of these people going bankrupt and not paying their debt?

    • 4 weeks ago
      Anonymous

      Become a debt collector and sue them

  23. 4 weeks ago
    Anonymous

    how does the atmospheric rivers we experienced 2 months ago affect this? sh-should we shut the economy down and re-elect Biden then?

  24. 4 weeks ago
    Anonymous

    >Pay all my bills with credit card
    >Pay all store purchases with credit card
    >Get 5% cash back every month
    >Use the cash that would have gone to these expenses to pay off the monthly balance
    >$100 a month in free money
    >$0 interest and $0 debt
    >Repeat every month
    How did morons manage to screw up a card that delays your expenses by 3 weeks and gives you free money for the privilege of that delay?

    • 4 weeks ago
      Anonymous

      How the frick you get 5% cash back

    • 4 weeks ago
      Anonymous

      where do i get 5%

  25. 4 weeks ago
    Anonymous

    Just started a thread here

    [...]

    My GF is 30k in credit card debt cause she's an idiot.
    She makes 70k a year under the table.
    She still is hardly making a dent

    Ive heard people have success with calling the bank and offering a third to settle the debt, with the consequences that it will hurt her credit.

    Any ideas here?
    How bad will it actually hurt her credit?
    The way I look at it, I might be wise to just let her take the credit hit and take the cash she keeps making under the table.
    Also she owns a car that's paid off.

    • 4 weeks ago
      Anonymous

      quads checked
      >How bad will it actually hurt her credit?
      the frick does she need more credit for, she's already stuck in a debt that she cant pay easily, the less she needs is more fricking credit, is she a tard?

    • 4 weeks ago
      Anonymous

      tell her to just stop paying them and restart in a few years.

  26. 4 weeks ago
    Anonymous

    Since this turned into a personal finance thread, what's the current best HYSA?
    I was thinking of transferring from ally to SoFi but not sure if there's a better choice right now.

  27. 4 weeks ago
    Anonymous

    im not a burgtard so i wouldn't know but dont you guys credmaxx and loanmaxx into buying cryptos? ever since i found about flur ai i started doing it and its paying off really nice, why arent you guys doing the same

  28. 4 weeks ago
    Hanz

    >blah
    >blah
    >blah
    as always, perspective is what's being purposefully omitted with such reporting.
    have a look at picrelated and you'll see that the past decade+ has been pretty much well below the long term averages and now it's reverting back to what used to be considered "normal" and manageable.
    if you think this is a problem now, then please elaborate on how the US made it through the 90s at all.

    • 4 weeks ago
      Anonymous

      Were there any regulations post-2008 financial crash that prohibit CC companies from giving enormous amounts of debt to those that can’t afford to pay it off? Either way, the trend is definitely up over the last decade.

  29. 4 weeks ago
    Anonymous

    hey, that's me!
    I'm taking out as much debt as I can, putting it into crypto, and I'm just not going to pay it back
    simple as

    • 4 weeks ago
      Anonymous

      My only debt is unpaid medical bills

      Be careful the more debt you get the higher risk they go after you

    • 4 weeks ago
      Anonymous
    • 4 weeks ago
      Anonymous

      Hello, based department? We've got a dangerously based man on the loose.

  30. 4 weeks ago
    Anonymous

    ive been seeing these headlines my entire life along with "omg most americans can't even cover a $500 emergency expense!" its all fake and gay, nothing ever happens

  31. 4 weeks ago
    Anonymous

    i have $0 (zero) in credit card debt

  32. 4 weeks ago
    Anonymous

    Rookie numbers
    We could go bigger

  33. 4 weeks ago
    Anonymous

    i've got 40k in CC debt all on 0% promotional offers at 12-18 months

    i see no reason to pay these off early

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