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![KobeissiLetter Avatar](https://lunarcrush.com/gi/w:24/cr:twitter::3316376038.png) The Kobeissi Letter [@KobeissiLetter](/creator/twitter/KobeissiLetter) on x 948.6K followers
Created: 2025-07-12 18:14:14 UTC

US credit card delinquencies are surging:

The share of credit card balances at large banks 30+ days past due reached XXXX% in Q1 2025, the third-highest in at least XX years.

The share of balances 60+ and 90+ days past due hit XXXX% and 1.77%, near record highs, according to the Philadelphia Fed.

Concerningly, the net charge-off rate rose to 5.99%, the highest since at least 2012.

The share of credit card losses relative to total outstanding credit card loans at large banks has TRIPLED since Q3 2021.

Meanwhile, the average credit card rate just hit 24.62%, the highest on record.

Americans are drowning in credit card debt.

![](https://pbs.twimg.com/media/GvrSmeKXQAArqNj.jpg)

XXXXXXX engagements

![Engagements Line Chart](https://lunarcrush.com/gi/w:600/p:tweet::1944097987463934259/c:line.svg)

**Related Topics**
[fed](/topic/fed)
[credit cards](/topic/credit-cards)

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