National Credit Card Delinquency and Charge-Off Rates
2:04 PMPosted by: Odysseas Papadimitriou
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.
Credit Card Charge-off Quarterly 2009 - 2016 -- Not Seasonally Adjusted
| Year | Dollar Amount Q1 | Dollar Amount Q2 | Dollar Amount Q3 | Dollar Amount Q4 | Total |
|---|---|---|---|---|---|
| 2016 | $6,988,319,939 | $7,135,256,129 | $6,629,088,246 | $8,590,104,530 | $29,342,768,844 |
| 2015 | $6,306,390,786 | $6,500,952,555 | $6,027,100,904 | $6,686,599,133 | $25,521,043,378 |
| 2014 | $6,655,262,877 | $7,102,174,666 | $6,024,263,226 | $6,508,984,892 | $26,290,685,661 |
| 2013 | $7,455,206,501 | $7,229,426,107 | $6,415,243,211 | $6,997,519,588 | $28,097,395,407 |
| 2012 | $8,386,296,103 | $8,210,142,984 | $7,446,991,661 | $7,832,369,338 | $31,875,800,086 |
| 2011 | $13,512,377,557 | $10,950,565,056 | $11,120,749,643 | $9,339,778,750 | $44,923,471,006 |
| 2010 | $21,986,107,406 | $22,613,612,960 | $17,372,479,411 | $15,836,010,510 | $77,808,210,287 |
| 2009 | $17,560,868,834 | $22,203,390,404 | $22,683,772,679 | $22,876,153,033 | $85,324,184,950 |
Annual Credit Card Delinquency and Charge-off Rates 1989-2016 — Not Seasonally Adjusted
| Year | Delinquency and charge off rate | Q1 | Q2 | Q3 | Q4 | Annual Average |
|---|---|---|---|---|---|---|
| 2016 | Delinquency Rate | 2.16 | 2.09 | 2.33 | 2.42 | 2.25 |
| 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 |
Annual Credit Card Delinquency and Charge-off Rates 1989-2016 — Not Seasonally Adjusted
(Source: Federal Reserve, February 2017)
Late Payments - The average number of accounts that are past due 2011 and 2012 (per consumer)
| Region | Average Number of Accounts Past Due -June 2012- | Average Number of Accounts Past Due -June 2011- |
|---|---|---|
| West South Central | 1.15 | 1.65 |
| South Atlantic | 1.09 | 1.42 |
| Mountain | 1.03 | 1.31 |
| East South Central | 0.94 | 1.24 |
| East North Central | 0.90 | 1.19 |
| Pacific | 0.77 | 1.02 |
| Middle Atlantic | 0.71 | 0.95 |
| West North Central | 0.73 | 0.88 |
| New England | 0.64 | 0.75 |
| US National | 0.91 | 1.19 |
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