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Credit card serious delinquency rates in the US rose to 7% in Q2 2024, the highest since 2011.

Delinquencies of 90+ days have more than doubled since 2022.

Meanwhile, serious delinquencies on auto loans have spiked to 3%, the highest level in 14 years.

According to data from the NY Fed, there are currently around 600 million credit card accounts and approximately 110 million auto loan accounts in the US.