$1 Trillion Credit Card Debt in Focus

The U.S. consumer is signs of stress with credit card balances reaching a record $1.03 trillion in Q2 2023, according to bank regulatory data compiled by KBRA Financial Intelligence (KFI). More consumers are falling behind on their credit card payments with delinquency rates increasing to 2.7% from a pandemic-era low of 1.5%.

Credit card balances have jumped almost 30% in two years as the highest inflation in decades erodes consumer spending power. The largest banks―lenders with more than $50 billion in assets―are reporting the highest delinquency rates at 2.9%, according to a KFI analysis of all bank credit card debt and delinquency rates. Ally Bank, Capital One, and Goldman Sachs Bank USA reported the highest delinquency rates among peers at 5.9%, 4.4%, and 4.2%, respectively.

Regional banks ($10 billion to $50 billion in assets) reported delinquency rates of 2.7%, while the smallest lenders (less than $10 billion in assets) reported the lowest delinquency rates at 2%. Read the full report here:

KFI Pro

KFI Pro subscribers can compare bank credit card balances by using the following KFI Calculations in Excel:

KCALLCCL: Total Credit Card Loans Outstanding

KCALLCCLPD: Total Delinquent Credit Card Loans*

*Credit card loans past due 30 days through 89 days and still accruing + loans past due 90 days or more and still accruing + nonaccrual.