– By the end of 2022, total credit card debt in the United States increased to $9306 billion (about 30.7 trillion baht).
– The situation may reach a “breaking point” if Americans cannot afford to pay their debts.
– Credit card interest rates are about 20% from the US economy in the midst of inflation – high interest.
– Currently, 46% of American credit cardholders owe a card, up from 39% last year.
Open the new year 2023 just a few months away. The global economy, especially the United States, has been flooded with continuity. Starting from the economic impact of the Russo-Ukrainian War since last year Inflation is soaring that the Federal Reserve (Fed) needs to raise interest rates on a relentless basis. spread to affect the US commercial banking sector Until Silicon Valley Bank (SVB) and a number of other banks collapsed. including recently There was news that companies in the US commercial real estate sector “smell” of major defaults.
The US economic turbulence is not over yet. because if going back to the beginning of March In the past, the New York Fed Come out to reveal a quarterly report on household debt that provides information that In the last quarter of 2022, credit card balances in the United States increased by $ 61 billion (about 2.013 trillion baht) to 9.86 billion dollars (about 32.5 trillion baht), which is the highest number. unprecedented This surpassed the previous record of $927 billion (about 30.6 trillion baht) before the outbreak of COVID-19 in the fourth quarter of 2019.
According to the report, in Q4 2022, the percentage of credit card users who paid their card swipe Delays of at least 30 days rose to 5.9% from the previous period of 5.2%, while the percentage of severe credit card debtors, or those who were late for 90 days or more, rose to 4% in the same quarter from 3.7% in the previous quarter.
However, although the ratio is still less than before the outbreak of COVID-19 But the New York Fed said “The delinquency ratio may continue to increase in 2023.”
According to a quarterly report by TransUnion, an American consumer credit reporting agency, as of the end of 2022, total credit card debt in the United States rose to $930.6 billion (about $30.7 trillion). baht), or an increase of 18.5% from the previous year. The average credit card balance per person rose to $5,805 per person (about 191,565 baht) during the same period.
Using the Great Recession of 2007-2009, Jill Gonzalez, an analyst at WalletHub, a personal financial advisory site, said: The “breaking point” occurs when a household’s credit card debt level reaches a point where people are unable to repay those debts. And the United States is getting closer and closer to that point.