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18 Jan 2024

🟥 The delinquency rate for credit card loans in 2023 has risen sharply

Which, based on historical patterns, suggests that the economy might be heading towards a recession.

8 Dec 2023

The average credit card interest rate right now has risen to 27.81%

And that's with U.S. credit card debt hitting new record highs north of $1,000,000,000,000 Source: Hedgeye

28 Nov 2023

As highlighted by The Kobeissi Letter >>> Buy Now Pay Later spending soars 20% compared to last year on Black Friday

It's also expected to jump 19% on Cyber Monday to a record $782 million. As excess savings in the US have gone from $2 trillion to zero, Americans are relying on debt more than ever. In other words, "deals" that are 20% off are being financed with credit card debt that has a 30% interest rate...

23 Nov 2023

Interest rate on credit card debt has risen to 21.19%

To put this in perspective, this rate was at 14.56% in early 2022. That’s a 6% + jump in less than 2 years. Current levels have NEVER been seen in over 25 years. This is happening at a time when credit card debt has crossed the $1 trillion threshold. To make things worse, personal interest payments have crossed $500 billion. Source: Game of Trades

30 Oct 2023

This is WORSE than the 2008 Financial Crisis. Credit card defaults are rising at levels NEVER seen in 3 decades

Source: Game of Trades

12 Oct 2023

The consumer is borrowing more than they can afford to pay

The consumer default rate on credit card loans from small lenders has seen a sharp spike to 7.51% This level is higher than the: - Dot Com bubble - Financial Crisis - C-19 With credit card interest rates still above 20%. Consumers are going to continue feeling the pressure. Source: Game of Trades

11 Oct 2023

US average interest rate on credit cards is now close to 23% ⚠ (hitting a new record high since data are recorded)

Source: C.Barraud

4 Oct 2023

Credit Card Delinquency rates at small banks have reached 7.51%, the highest level ever recorded

Source: FRED

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