The US is experiencing a surge in defaults on credit card loans, with lenders facing a 14-year high in delinquencies. In the first nine months of 2024, lenders wrote off $46 billion in seriously delinquent loans, a 50% increase compared to the previous year. Capital One customers have the highest delinquencies, followed by Citibank, Synchrony Bank, JPMorgan Chase, Discover Bank, and Bank of America. The rise in credit card defaults is seen as a reflection of strained consumer finances, particularly among lower-income households, due to high inflation and rising interest rates.



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