The Rising Tide of Credit Card Defaults: A Looming Challenge for Consumers in 2025
As the U.S. grapples with persistent inflation, consumers are feeling the strain more than ever. Recent data reveals that defaults on credit card loans have surged to levels not seen since the 2008 financial crisis, raising concerns about the financial health of many households. According to industry data compiled by BankRegData and reported by the Financial Times, credit card lenders have written off an alarming $46 billion in delinquent loan balances in the first nine months of 2024—a staggering 50% increase from the previous year and the highest figure in over a decade.