90+ Card Delinquency

Second-Quarter 90+ Card Delinquency Hits 5+ Year High

Second-quarter 90+ card delinquency climbed to its highest level in more than five years for a second-quarter, jumping 25 bps (basis points), signaling higher charge-offs in the near-term and possibly well into 2023. After hitting a seven-year record of 1.29% for the past two quarters, the late-stage delinquency rate seasonally nudged down by 11 bps…