US Debt Delinquencies Climb as Credit Card Past-Due Rate Nears 13%
Updated
Updated · CBS New York · Oct 14
US Debt Delinquencies Climb as Credit Card Past-Due Rate Nears 13%
3 articles · Updated · CBS New York · Oct 14
Summary
Nearly 13% of U.S. credit card balances are seriously past due, New York Fed data shows, while serious auto-loan delinquencies have reached a record high this year.
Inflation is outpacing wage growth for many households, eroding purchasing power and pushing more families to use credit cards as a fallback for groceries, rent and utilities.
Mortgage delinquencies have risen to a six-year high, student-loan delinquencies have jumped after repayment protections ended, and Americans over 70 are showing the highest auto-loan delinquency rate since 2000.
Almost 9% of households spent income on debt repayment in 2025—the highest since 2010—and nearly 20% were late on a debt payment, up from about 12% in 2022.
That strain is feeding broader caution: more than half of consumers say they plan to cut spending over the next year as cost-of-living frustration deepens.