National Credit Card Delinquency and Charge-Off Rates
3:36 PMPosted by: Bianca Peter
You can’t get an accurate sense of the consumer debt situation without considering credit card delinquency and charge-off rates. These metrics speak to the sustainability of consumer spending habits, indicating the ability of credit card users to stay current on their bills. For example, high delinquency rates may foreshadow a rash of defaults as well as the potential for a downturn in the economy, while a downward trend in default rates could indicate economic or habitual improvement.
Furthermore, consumers continue to owe charged-off debt for years, which means ignoring such sums will paint a misleading picture of the debt landscape.
Annual Credit Card Charge-off 2009 - 2019 — Not Seasonally Adjusted (in Billions)
(Source: Federal Reserve 2019, Fitch Ratings) *2019 data is incomplete and reflects most recent reported amounts.Credit Card Charge-off Quarterly 2009 - 2019 — Not Seasonally Adjusted
Year | Dollar Amount Q1 | Dollar Amount Q2 | Dollar Amount Q3 | Dollar Amount Q4 | Total |
---|---|---|---|---|---|
2019 | $9,428,969,814 | $9,676,870,248 | $8,927,217,587 | N/A | $28,033,057,649* |
2018 | $9,042,928,871 | $9,018,148,730 | $8,508,481,967 | $9,214,264,045 | $35,783,823,613 |
2017 | $8,166,419,893 | $8,501,258,650 | $7,988,104,468 | $9,090,355,844 | $33,746,138,855 |
2016 | $6,757,032,024 | $6,906,613,207 | $6,423,715,388 | $8,181,687,479 | $28,269,048,098 |
2015 | $6,284,189,770 | $6,480,072,773 | $6,010,661,941 | $6,464,633,986 | $25,239,558,470 |
2014 | $6,628,482,414 | $7,072,545,019 | $5,999,938,735 | $6,483,416,790 | $26,184,382,957 |
2013 | $7,405,966,134 | $7,210,617,618 | $6,395,116,735 | $6,972,774,612 | $27,984,475,100 |
2012 | $8,371,876,328 | $8,160,339,824 | $7,406,113,044 | $7,782,609,522 | $31,720,938,718 |
2011 | $13,502,618,356 | $10,940,307,705 | $11,107,626,370 | $9,326,660,323 | $44,877,212,754 |
2010 | $21,977,227,136 | $22,605,466,693 | $17,365,814,336 | $15,829,671,870 | $77,778,180,033 |
2009 | $17,554,893,261 | $22,198,297,435 | $22,678,132,551 | $22,870,311,106 | $85,301,634,353 |
Annual Credit Card Delinquency and Charge-off Rates 1989 - 2018 — Not Seasonally Adjusted
(Source: Federal Reserve, May 2019)Quarterly Credit Card Delinquency and Charge-off Rates 1989 - 2019 — Not Seasonally Adjusted
Year | Delinquency and charge off rate | Q1 | Q2 | Q3 | Q4 | Annual Average |
---|---|---|---|---|---|---|
2019 | Delinquency Rate | 2.59 | 2.42 | 2.62 | N/A | N/A |
Charge Off Rate | 3.83 | 3.83 | 3.49 | N/A | N/A | |
2018 | Delinquency Rate | 2.54 | 2.35 | 2.54 | 2.63 | 2.52 |
Charge Off Rate | 3.8 | 3.74 | 3.46 | 3.57 | 3.64 | |
2017 | Delinquency Rate | 2.42 | 2.35 | 2.57 | 2.56 | 2.48 |
Charge Off Rate | 3.59 | 3.64 | 3.37 | 3.63 | 3.56 | |
2016 | Delinquency Rate | 2.16 | 2.09 | 2.33 | 2.44 | 2.26 |
Charge Off Rate | 3.16 | 3.13 | 2.86 | 3.51 | 3.17 | |
2015 | Delinquency Rate | 2.13 | 2.01 | 2.18 | 2.23 | 2.14 |
Charge Off Rate | 3.03 | 3.03 | 2.76 | 2.91 | 2.93 | |
2014 | Delinquency Rate | 2.33 | 2.15 | 2.23 | 2.22 | 2.23 |
Charge Off Rate | 3.32 | 3.45 | 2.89 | 2.98 | 3.16 | |
2013 | Delinquency Rate | 2.67 | 2.41 | 2.47 | 2.45 | 2.52 |
Charge Off Rate | 3.78 | 3.62 | 3.19 | 3.33 | 3.48 | |
2012 | Delinquency Rate | 3.10 | 2.79 | 2.84 | 2.78 | 2.90 |
Charge Off Rate | 4.29 | 4.15 | 3.74 | 3.78 | 3.99 | |
2011 | Delinquency Rate | 3.89 | 3.50 | 3.47 | 3.32 | 3.54 |
Charge Off Rate | 6.96 | 5.58 | 5.63 | 4.53 | 5.68 | |
2010 | Delinquency Rate | 5.88 | 4.90 | 4.59 | 4.22 | 4.90 |
Charge Off Rate | 10.16 | 10.97 | 8.55 | 7.70 | 9.35 | |
2009 | Delinquency Rate | 6.61 | 6.53 | 6.51 | 6.43 | 6.52 |
Charge Off Rate | 7.62 | 9.77 | 10.10 | 10.12 | 9.40 | |
2008 | Delinquency Rate | 4.80 | 4.74 | 4.83 | 5.72 | 5.02 |
Charge Off Rate | 4.70 | 5.47 | 5.62 | 6.30 | 5.52 | |
2007 | Delinquency Rate | 3.96 | 3.90 | 4.45 | 4.68 | 4.25 |
Charge Off Rate | 3.93 | 3.85 | 4.05 | 4.15 | 4.00 | |
2006 | Delinquency Rate | 3.80 | 4.01 | 4.17 | 4.05 | 4.01 |
Charge Off Rate | 3.13 | 3.52 | 3.87 | 4.03 | 3.64 | |
2005 | Delinquency Rate | 3.62 | 3.56 | 3.95 | 3.65 | 3.70 |
Charge Off Rate | 4.63 | 4.35 | 4.33 | 6.05 | 4.84 | |
2004 | Delinquency Rate | 4.10 | 4.02 | 4.12 | 4.20 | 4.11 |
Charge Off Rate | 5.38 | 5.39 | 4.67 | 4.71 | 5.04 | |
2003 | Delinquency Rate | 4.57 | 4.38 | 4.29 | 4.62 | 4.47 |
Charge Off Rate | 5.77 | 6.11 | 5.40 | 6.07 | 5.84 | |
2002 | Delinquency Rate | 4.85 | 4.61 | 4.96 | 5.05 | 4.87 |
Charge Off Rate | 7.85 | 6.27 | 6.94 | 5.63 | 6.42 | |
2001 | Delinquency Rate | 4.75 | 4.75 | 5.09 | 4.86 | 4.86 |
Charge Off Rate | 4.77 | 5.24 | 5.25 | 6.43 | 5.42 | |
2000 | Delinquency Rate | 4.35 | 4.32 | 4.62 | 4.70 | 4.5 |
Charge Off Rate | 4.62 | 4.24 | 4.29 | 4.70 | 4.46 | |
1999 | Delinquency Rate | 4.61 | 4.29 | 4.64 | 4.63 | 4.54 |
Charge Off Rate | 5.04 | 4.38 | 4.40 | 4.64 | 4.62 | |
1998 | Delinquency Rate | 4.72 | 4.56 | 4.80 | 4.82 | 4.73 |
Charge Off Rate | 5.26 | 5.08 | 5.24 | 5.30 | 5.22 | |
1997 | Delinquency Rate | 4.67 | 4.55 | 4.77 | 4.90 | 4.72 |
Charge Off Rate | 4.92 | 5.40 | 5.38 | 5.60 | 5.33 | |
1996 | Delinquency Rate | 4.04 | 4.12 | 4.53 | 4.68 | 4.34 |
Charge Off Rate | 4.21 | 4.53 | 4.45 | 4.73 | 4.48 | |
1995 | Delinquency Rate | 3.48 | 3.57 | 3.90 | 3.99 | 3.74 |
Charge Off Rate | 2.94 | 3.33 | 3.63 | 4.01 | 3.48 | |
1994 | Delinquency Rate | 3.62 | 3.18 | 3.29 | 3.30 | 3.35 |
Charge Off Rate | 3.29 | 3.06 | 2.92 | 3.13 | 3.10 | |
1993 | Delinquency Rate | 4.63 | 4.33 | 4.14 | 3.91 | 4.25 |
Charge Off Rate | 4.09 | 3.90 | 3.58 | 3.39 | 3.74 | |
1992 | Delinquency Rate | 5.31 | 4.96 | 5.04 | 4.70 | 5.00 |
Charge Off Rate | 4.91 | 4.93 | 4.38 | 4.58 | 4.70 | |
1991 | Delinquency Rate | 5.29 | 5.32 | 5.41 | 5.30 | 5.33 |
Charge Off Rate | 4.18 | 4.68 | 4.75 | 4.69 | 4.58 | |
1990 | Delinquency Rate | – | – | – | – | – |
Charge Off Rate | 3.13 | 3.28 | 3.48 | 3.87 | 3.44 | |
1989 | Delinquency Rate | – | – | – | – | – |
Charge Off Rate | – | 3.21 | 3.03 | 3.31 | 3.17 |
Percentage of Consumers with Late and Missed Payments
(Source: NFCC, 2019 Consumer Financial Literacy Survey)from Wallet HubWallet Hub
via Finance Xpress
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