Credit Card Balances 90 Days Late Have Nearly Doubled Since 2022. New Delinquencies Have Not Moved.
Consumers are still doing OK, but the people facing material financial strain are really struggling.
Overview
When Capital One Financial (NYSE: COF) reported its second-quarter 2026 earnings, it posted a 30-day delinquency rate of 3.13%, down from the previous year and below the first-quarter rate. Given the high rate of inflation and concerns about stretched consumers, that's a good sign. But what should investors really take away from this data? A recent Federal Reserve report takes a deeper dive into the numbers.
Capital One is a large bank and credit card company, with a focus on offering credit to lower-quality customers. But it generally doesn't delve into the higher-risk spaces of the industry. This is a key reason why Synchrony Financial (NYSE: SYF), which issues store cards, had a higher 30-day delinquency rate of 4.16%. Store cards tend to carry more credit risk. But, even here, the trends aren't bad. Like Capital One, Synchrony's 30-day delinquency rate was down sequentially and year over year.
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Originally published at www.fool.com.