Credit Card Balances 90+ Days Delinquent · Quarterly (NY Fed)

## What this measures

The share of outstanding credit card balances that are 90 or more days past due, New York Fed Consumer Credit Panel / Equifax.

## Why it matters

Ninety days is the point where a late payment becomes a default the lender must reserve against. Cards are the first product households stop paying; this series turned up two quarters before the 2008 unemployment peak.

## How to read it

Levels above 12% are the post-2023 regime, comparable to 2010–11. Direction over four quarters is the read.

## What it does not say

Balance-weighted, so a few large delinquent balances move it. The transition-rate series in the same report is the flow view.

## Source

Federal Reserve Bank of New York, Quarterly Report on Household Debt and Credit (data xlsx, Page 12). Public.