U.S. credit card balances rose to $1.29 trillion in the third quarter
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U.S. credit card balances increased by approximately $22 billion in the third quarter, rising to about $1.29 trillion. During the same period, credit limits increased by $115 billion, while the share of delinquent balances declined slightly from the previous quarter. An analysis by the Federal Reserve Bank of New York based on card origination year showed that credit cards issued from 2020 to 2022 once accounted for a relatively large share of newly delinquent balances that were 90 or more days past due; as the share of accounts issued in those years among active accounts has narrowed, their contribution to newly seriously delinquent balances has also declined.
AI-written from reports · updated 1 hour ago
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- PYMNTSCredit card limits increase by $115 billion, delinquency rate eases
U.S. credit card limits increased by $115 billion, while the share of delinquent balances edged down from the previous quarter; credit card balances rose by $22 billion in the third quarter to about $1.29 trillion. The Federal Reserve Bank of New York’s analysis by origination year found that credit cards issued from 2020 to 2022 once accounted for a larger share of newly delinquent balances 90 or more days past due, but that contribution has declined as their share of active accounts has shrunk.
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