Is subprime credit card crisis looming?

Credit card delinquencies had taken a huge bite out of results in the second quarter and the resumption of student loan payments could compound the problem.

  • Folks with a credit score between 300 and 600 (subprime) experienced a delinquency rate of 10.6% (for those 30 – 59 days past due), in July of this year – up from 9.3% last year.
  • Meanwhile, the average interest paid on credit card debt is reaching insane levels.

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