Financial experts have warned that credit card holders are increasing in debt, as the number of Americans, which only pays the minimum payment of each month, is increasing.
The Philadelphia Federal Preparatory System 2024 insight report for the third quarter It has been revealed that 10.75 % of creditors paid only in the third quarter of 2024.
He also pointed out that the number of consumers who delinquent monthly card payments was increasing due to an increase in the 30 -day delinquent rate of 3.52 %.
The increase in delinquent accounts doubled from 1.57 % in the second quarter of 2021, the lowest in the pandemic era.
According to Brian Riley, a director in charge of Javelin Strategy & Research. Payment book: “The economy is still unstable, and credit card administrators need to be aware that there are subtle elements that cause risks.”
“The current trend that the number of consumers who pay only the minimum amount of payment is increasing is a prediction indicator that shows that households are still stressed.
“The important thing here is that all card segments are not signs of stress, but the most vulnerable segments, that is, low -income, low -income, and less trust in 2025. It indicates that there is a downfield risk. ”
“Considering that consumer revolving debt is at the highest level in history, inflation problems continue to squeeze their households, and the publisher must always pay attention to the vulnerable portfolio indicators.”
Financial experts have warned that credit card owners are increasing because the data indicates that the number of Americans, which only pays minimal payments every month, is increasing.
Concerns regarding the increase in credit debt were also emphasized. 2024 DFAST stress test It is also implemented by the Federal Reserve.
According to the preparatory bank, these tests said, “Banks can fulfill their obligations for creditors and transactions, continue to lend to households and companies, but have enough capital to absorb losses even in stressful situations. Evaluate whether or not. ” Web site。
As a result, banks are expected to face a total of about $ 684 billion, of which $ 175 billion is only due to consumer credit cards.
“If consumers pay only the minimum payment, credit card issuing companies will certainly increase their income, but if the depreciation rate approaches 6-7 %, the income will be short -lived.”
“This is far beyond the 3.5 % comfort zone managed by the publisher two years ago.”
Concerns regarding the increase in credit debt also highlighted in the 2024 DFAST stress test implemented by the Federal Reserve.
As a result, the bank was expected to face a total of about $ 684 billion, of which $ 175 billion was due to consumer credit cards.
According to Noodle walletThe average balance of credit cards is $ 10,563, so just paying the minimum amount will cost you 22 and $ 18,000.
He also pointed out that one in five Americans, who are currently borrowed with a revolving credit card, claims that they only pay for the minimum on cards.
“There are still many things that are still unknown. We've seen things rapidly change in the last few days.
“With the rise in prices, people will use credit cards to purchase necessities. Continuing higher interest rates will make life even more difficult.
“If they only pay the minimum, they may drown from their lives,” said Elizabeth Rento, a senior financial company Nardwallet. Explained。
New York Ren investigation According to a survey from December 2024, the average probability of being unable to repay the minimum debt in the next three months was 14.2%.
