Credit card delinquencies on the rise

[Anonymous No.58481282]

>Americans now owe $1.12 trillion on their credit cards, the Federal Reserve Bank of New York reported Tuesday.
>The average balance per consumer stands at $6,218, up 8.5% year over year, according to a separate quarterly credit industry insights report from TransUnion
> credit card delinquency rates are higher across the board, the New York Fed and TransUnion found. Over the last year, roughly 8.9% of credit card balances transitioned into delinquency, the New York Fed reported.
>According to TransUnion’s research, “serious delinquencies,” or those 90 days or more past due, reached the highest level since 2010
>Overall, an additional 19.3 million new credit accounts were opened in the fourth quarter of 2023, boosted in part by subprime borrowers looking for cards with higher limits, according to Wise. Subprime generally refers to those with a credit score of 600 or below, according to TransUnion.

https://archive.is/n57XL

[Anonymous No.58481298]

Keeping all cash in investments, just not paying that debt off

[Anonymous No.58481308]

Only in the US you will see this shit.
I'd be ashamed if i had like 1€ of debt.

[Anonymous No.58481312]

Debtmaxxers winning

[Anonymous No.58481314]

>>58481282
ahhh geez dude i think i can pay, like, $2

[Anonymous No.58481325]

>pay your FUCKING debt back goy

[Anonymous No.58481366]

>>58481282
Time to long sofi

[Anonymous No.58481418]

debt collectors who send guys to knock on your door are going to be hiring like crazy now

[Anonymous No.58482469]

I have never ran a balance in my entire life.

[Anonymous No.58482483]

Clad this thread exists. What's the best credit card right now and what's worth prioritizing? Long 0% intro period or higher cash back? Was thinking about this card, but it's Wells Fargo

https://creditcards.wellsfargo.com/active-cash-credit-card/?FPID=0126D7IDF40000&product_code=CC&subproduct_code=AC&cx_nm=CXNAME_CSMPD_MC&sub_channel=WEB&vendor_code=IA&lang=en&placement_id=small_primary&offerid=c_ccd_findcreditcardrspv_smlprimary&slotid=wf_con_hp_smlprimary&linkloc=hp&offertype=tk1&RCTTST=DHKOBZX

[Anonymous No.58482595]

>>58481282
I owe 6500 lol

[Anonymous No.58482626]

>>58481308
and this is why euros are so poor, seriously I just saw your salaries and you might as well be Mexicans for the amount you all make.

[Anonymous No.58482751]

>>58481282
Most credit card debtors have over $10k across multiple cards. The average isn't telling how bleak it actually is. These people also have auto loans, home loans, student loans, etc. I am one of the zero debt havers bringing down the average.

[Anonymous No.58482764]

>>58482626
derp, we are poor because we have less debts.
American education right here.

[Anonymous No.58482787]

>>58481282
>having credit card debt
I don't understand how people can live like this.

[Anonymous No.58482827]

>>58481282
Isn't that misleading though? The average credit card debt could be $100,000 paid in full each month with borrowers "falling behind on debt" having less than $100 average and you could say that.
>>58482751
Or the situation could be like this.

Fuck the CNBC giving misleading headlines.

[Anonymous No.58482833]

Some people need to be sat down and told that credit cards are for floating money you already have in your bank account to earn cash back.
Adults (not teenagers, not children) literally swipe their card assuming they will figure out how to pay the credit card later.
If you only knew how dumb the average "human" really is.
Then again, there are also more and more debtmaxxers who don't believe in society at all, who pay for literally nothing.

[Anonymous No.58482836]

>>58482787
I'm trying to put myself in their headspace. Celsius Network is currently sueing me for about $1 million in bankruptcy clawbacks but they have a fake name and fake address on file for me so I have been completely ignoring their emails to see what actually happens while they escalate for months. Out of sight, out of mind. I have to imagine people who live with carred credit debt think something like this.

[Anonymous No.58482838]

>>58482751
same I pay cash for everything. no credit cards, no auto loan, no cell phone installments, no mortgage. zoomers get really uncomfortable when I pay in cash and count my change.

[Anonymous No.58483083]

>>58482483
Chase Sapphire. Best rewards and cashback, which is all that really matters.

[Anonymous No.58483104]

>>58481366
Why?

[Anonymous No.58483348]

>>58481282
whenever headlines say "average", am I supposed to assume "median", because if not then these headlines are scams

[Anonymous No.58483639]

>>58482483

like the 2% Fidelity me

[Anonymous No.58483652]

>>58482836
>Celsius Network is currently sueing me for about $1 million

go on

[Anonymous No.58484096]

>>58482483
I have that one and like it

[Anonymous No.58484113]

>>58483083
good goy keep consooming

[Anonymous No.58484160]

>>58484113
>quit buying food goyim
>quit buying gas goyim
>quit buying guns and ammo goyim
How about no

[Anonymous No.58484182]

>>58484160
What kind of retard buys food and gas with a credit card? You're barely getting anything back in reward points and you're also simultaneously expanding the money supply and further devaluing your currency.

[Anonymous No.58484191]

>>58483083
>annual fee
lmfao no way

[Anonymous No.58484220]

>>58484182
the kind that has to pay food prices in the year 2000+ 24

[Anonymous No.58484246]

>>58484220
>he doesnt dive in dumpsters for free food
ngmi

[Anonymous No.58484275]

Looks like burgers are fucked eh?

[Anonymous No.58484277]

>>58484220
food isn't even that much if you're not a fat fuck buying junk food and know how to cook

[Anonymous No.58484332]

>>58484182
The smart kind. 2% back is better than 0% back. I have no incentive to pay in cash.
>you're also simultaneously expanding the money supply and further devaluing your currency
First, no I’m not. Second, my entire lifetime of using a credit card is a drop in the bucket. The entirety of the country using credit cards is nothing compared to trillions created at a drop of the hat because the Fed wanted to.
>inb4 you think I carry a balance month to month Iike a nigger

[Anonymous No.58484335]

>>58484277
Do you not buy groceries? Why is your method of paying better?

[Anonymous No.58484340]

Do people actually just let the automatic monthly payment happen on their debt? I just pay my shit off at the end of the week

[Anonymous No.58484343]

>>58484335
He probly just pays in cash to feel 'off the grid'

[Anonymous No.58484389]

>>58484113
Credit purchase $50 for gas and groceries
Pay $50 on credit card
Get $2.50 for free
Repeat for all purchases and spend less than I earn

Money is meant to be exchanged, and people need to purchase things like gas and groceries. Are you trying to imply that all credit card use is bad?

[Anonymous No.58484738]

>>58484389
Yes because he’s a retarded child who doesn’t pay for his own things

[Anonymous No.58484793]

>>58484389
sapphire doesn't give you 5% back on groceries / gas. unless you're talking about those rolling offers that you have to keep activating? for groceries and gas, you want blue cash preferred

[Anonymous No.58484816]

How do I get a bank to lend to a business so I can carry the debt away from my SSN

[Anonymous No.58484827]

>>58484816
Use the TIN instead of your SSN you dumbass

[Anonymous No.58484850]

>>58481418
Hahahaha never gonna happen I heard a dude today say they gonna have to get it back in blood

[Anonymous No.58484851]

>>58484827
Yeah but like, do I just transfer assets and say my company owns them and then try to borrow with it, or how does it work

[Anonymous No.58484934]

>>58484793
Just used example figures. Costco (Citi) credit card give 4% back on gas. Sapphire gives multiplied points depending on what you purchase. So it still stands: using credit cards responsibly gives you free money.

[Anonymous No.58484964]

[Anonymous No.58484965]

>>58482787
Pic related. It’s this easy.

[Anonymous No.58485004]

>>58481282
>mfw imma debtmaxx $123,500 in ebay gold and then just quit paying.

[Anonymous No.58485239]

>>58482838
You’re retarded, you could be receiving 2% cash back for free if you had monetary sense and used a credit card. All you have to do is pay it off, and it’s literal free money. I use autopay and my bank account has $20,000, so it’s literal FREE MONEY but you low-IQ retards think “credit bad.”
You child. Imagine being a grown adult and not owning a credit card, embarrassing.

[Anonymous No.58485250]

>>58482764
Stop coping, America will always be better than your muslim infested society

[Anonymous No.58485284]

>>58485250
How in fuck are you gonna criticize Europe for having too many Muslims? I live in a red state and have never seen so many beady-eyed foreigners milling around in my life. White non-Latinos are 59% of the population. Wake up big dog, we're being raped with taxes to pay for people who want us dead.

[Anonymous No.58486687]

>>58481282
People that are indebted whom rack up interest on their credit cards probably deserve it. There’s ways to mitigate the crazy interest that comes with those cards by doing a balance transfer to other credit cards. It’s insane to me how little people know about this type of shit. Every time I bring up what a balance transfer is I get looked upon like I’m Jesus or something. The average person is literally braindead.

[Anonymous No.58486697]

>>58481282
hahahah im just not gonna pay it back is all uggghhhh hanahaha

[Anonymous No.58487831]

>>58482764
We also don't go bankrupt on unexpected bills.

[Anonymous No.58487856]

>>58481308
Debt is perfectly fine for cash flow operations or if you're investing in an appreciating asset like real estate or a well-functioning business.

[Anonymous No.58487921]

>>58486687
i'm on my 9th balance transfer

[Anonymous No.58487924]

>>58484389
$2.50 reward isn't free retard.

[Anonymous No.58487932]

>>58487856
no it's not and has never been until the Jews took this country over

[Anonymous No.58488229]

>jews create way to easily borrow money
>charge companies for accepting said payment method
>companies raise prices accordingly
>jews incentivize consumers by offering them a portion of the profit
>consumers thank the jews for their generosity
>consumers are still in a net loss but think they're outsmarting the jews
>jews make even more when consumers fall behind on payments
they truly are the master race

[Anonymous No.58488319]

>>58481312
When "the event" happens, you'll lose almost everything and then even more.

[Anonymous No.58488330]

>>58487856
Only the land appreciates, the building sitting on it depreciates

[Anonymous No.58488407]

>throw 10k into 12 month boomer deposit (CD)
>max out 10k 0% intro APR goy card
>pay off goy card when boomer deposit matures
I'll make like $500.
Seethe kites

[Anonymous No.58488623]

>>58487921
How much available credit do you have total?

[Anonymous No.58488627]

>>58483348
Underrated post.

[Anonymous No.58488724]

>>58485250
Lmao, just lmao.

[Anonymous No.58488725]

>>58482764
Yes, debt is a tool to make more money.

It's why you are poor, yes.

[Anonymous No.58488749]

I filed bankruptcy to get myself out of massive credit card debt, all my crypto and investments are in my moms name so didn’t have to give away anything, it’s free money
>>58487921
based
>>58488627
saved

[Anonymous No.58488830]

>>58481282
question for one post OP

how do I make money off of these people going bankrupt and not paying their debt?

[Anonymous No.58488993]

>>58485239
>2%
With the write mix of cards you can get 3-5% easily by using each card for different categories. I have Chase Sapphire for travel/dining, Amex for gas, groceries, and online purchases, and Citi Double Cash for everything else.

[Anonymous No.58489018]

>>58488330
Depends on the building but even so, so what? The land will appreciate faster as long as you're not buying top of the market.

>>58487932
This is a low IQ post by an Ellis Islander at best, more likely you're Latino.

[Anonymous No.58489055]

>>58481282
how does the atmospheric rivers we experienced 2 months ago affect this? sh-should we shut the economy down and re-elect Biden then?

[Anonymous No.58489073]

>>58484335
maybe people should be thinking more about how much money they are giving to Ukraine, right?

[Anonymous No.58489120]

>>58488725
this, i borrowed some BTC when it was 71k and sold it for usd, if i wanted to repay my BTC debt i could repay it for way cheaper now that bitcoin is 66k

[Anonymous No.58489159]

>>58481282
>everyone's broke no-ACCCCKKKKK!!!!!!

[Anonymous No.58489215]

>>58488830
Become a debt collector and sue them

[Anonymous No.58489286]

>Pay all my bills with credit card
>Pay all store purchases with credit card
>Get 5% cash back every month
>Use the cash that would have gone to these expenses to pay off the monthly balance
>$100 a month in free money
>$0 interest and $0 debt
>Repeat every month
How did retards manage to screw up a card that delays your expenses by 3 weeks and gives you free money for the privilege of that delay?

[Anonymous No.58489301]

>>58482483
>Long 0% intro period or higher cash back?
Cash back. Unless you already have a 2% everything card.

2% everything card (WF active cash/ Citi double cash)
3% from grocery stores & restaurants (capital one savor)
Prime Visa if you use Prime

Simple as.

[Anonymous No.58489312]

>>58483083
>annual fee
Trash.

[Anonymous No.58489657]

>>58484182
>devaluing your currency
>your
speak for yourself, nocoiner

[Anonymous No.58489977]

>>58484182
NTA but 3% back and you can just pay it off every time you get paid. I exclusively use my checking account to pay off my reddit lard every two weeks.

[Anonymous No.58490000]

Just started a thread here

>>58489988

My GF is 30k in credit card debt cause she's an idiot.
She makes 70k a year under the table.
She still is hardly making a dent

Ive heard people have success with calling the bank and offering a third to settle the debt, with the consequences that it will hurt her credit.

Any ideas here?
How bad will it actually hurt her credit?
The way I look at it, I might be wise to just let her take the credit hit and take the cash she keeps making under the table.
Also she owns a car that's paid off.

[Anonymous No.58490634]

Since this turned into a personal finance thread, what's the current best HYSA?
I was thinking of transferring from ally to SoFi but not sure if there's a better choice right now.

[Anonymous No.58490702]

>>58490000
quads checked
>How bad will it actually hurt her credit?
the fuck does she need more credit for, she's already stuck in a debt that she cant pay easily, the less she needs is more fucking credit, is she a tard?

[Anonymous No.58490708]

>>58481308
Imagine paying off your debts lmao.

[Anonymous No.58490725]

>>58490000
tell her to just stop paying them and restart in a few years.

[Anonymous No.58490744]

>>58487924
Oh he’s back. Why didn’t you explain how you buy groceries and why that’s better? After that, please explain why the reward is free to the user

[Anonymous No.58490754]

>>58489286
How the fuck you get 5% cash back

[Anonymous No.58490781]

>>58489286
where do i get 5%

[Anonymous No.58490800]

>>58489055
>atmospheric rivers
Kek

[Anonymous No.58491024]

>>58481282
im not a burgtard so i wouldn't know but dont you guys credmaxx and loanmaxx into buying cryptos? ever since i found about flur ai i started doing it and its paying off really nice, why arent you guys doing the same

[Anonymous No.58492189]

>>58481308
what is money really? i will give you 2 apples now, but you need to give them back in 2 weeks and 1 extra as interest, eats 2 apples, fuck you faggot

[Hanz !!VbfQyw9CugG No.58492261]

>>58481282
>blah
>blah
>blah
as always, perspective is what's being purposefully omitted with such reporting.
have a look at picrelated and you'll see that the past decade+ has been pretty much well below the long term averages and now it's reverting back to what used to be considered "normal" and manageable.
if you think this is a problem now, then please elaborate on how the US made it through the 90s at all.

[Anonymous No.58492367]

>>58492261
Were there any regulations post-2008 financial crash that prohibit CC companies from giving enormous amounts of debt to those that can’t afford to pay it off? Either way, the trend is definitely up over the last decade.

[Anonymous No.58492391]

>>58481282
hey, that's me!
I'm taking out as much debt as I can, putting it into crypto, and I'm just not going to pay it back
simple as

[Anonymous No.58492571]

>>58481282
ive been seeing these headlines my entire life along with "omg most americans can't even cover a $500 emergency expense!" its all fake and gay, nothing ever happens

[Anonymous No.58493570]

>>58481282
i have $0 (zero) in credit card debt

[Anonymous No.58493625]

My only debt is unpaid medical bills

>>58492391
Be careful the more debt you get the higher risk they go after you

[Anonymous No.58493801]

>>58484277
I'm guessing that you don't eat organic

[Anonymous No.58493811]

>>58492391

[Anonymous No.58493865]

>>58492391
Hello, based department? We've got a dangerously based man on the loose.

[Anonymous No.58493870]

>>58481282
Rookie numbers
We could go bigger

[Anonymous No.58493893]

i've got 40k in CC debt all on 0% promotional offers at 12-18 months

i see no reason to pay these off early