Credit card delinquencies have jumped across the United States, with Wyoming, Rhode Island, and Alaska seeing the largest increases, according to the latest data from personal finance company WalletHub.
An analysis of consumer delinquency rates between the third quarters of 2023 and 2024 showed that credit card delinquencies rose in all 50 states during the period, according to a Jan. 16 report from the company.
“While some credit card delinquency is always inevitable, when the rates of delinquency increase, that can indicate the economy as a whole is struggling,” the report stated.
“Being delinquent on a credit card is very bad for your credit score, and late payments remain on your credit report for seven years. Payments are only reported to the credit bureaus as delinquent once they are 30 days past due.”…