Credit card delinquencies are on the rise as new research from the New York Federal Reserve shows nearly a fifth of borrowers are “maxed-out.” In the new report, issued by the bank’s Center for Microeconomic Data, household debt was shown to have risen by 1.1 percent, or $184 billion, in the first quarter of the year, bringing the total to $17.69 trillion. “In the first quarter of 2024, credit card and auto loan transition rates into serious delinquency continued to rise across all age groups,” Joelle Scally, regional economic principal within the household and public policy research division at the bank, said in a statement. “An increasing number of borrowers missed credit card p
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