Today’s Lead Story
Monday, August 17Debt
Credit Card Late Payments Jump to 12.8% — Levels Not Seen Since the Great Recession
via CNBC
The Federal Reserve Bank of New York's Q2 2026 report found that 12.8% of credit card balances are now at least 90 days past due — nearly double the 7.6% rate from the prior quarter — as total U.S. card debt climbed $21 billion to $1.26 trillion. Researchers say a widening 'K-shaped' economic divide is pushing lower-income households to lean heavily on credit just to cover basic expenses.
Why it matters
Late-stage delinquency triggers penalty interest rates and lasting credit-score damage that can close the door on lower-rate borrowing for years.
