Credit card, auto loan delinquency rates rise in the US, says report

About 8.5% of credit card balances and 7.7% of auto loans moved into delinquency in the fourth quarter. — Bloomberg

NEW YORK: American households took on more debt at the end of last year, and some of those loans are increasingly going bad, according to data from the Federal Reserve (Fed) Bank of New York.

Although overall US delinquency rates remain below pre-Covid levels, those for credit cards and auto loans are now higher.