To start, here’s a chart of US credit card serious delinquency rates for subprime borrowers.
Subprime credit card delinquencies have risen 7 percentage points in just ~15 months.
These borrowers reflect a WHOPPING ~23% of the consumer credit market, according to Fed data. pic.twitter.com/mNUaNwc0GB
— The Kobeissi Letter (@KobeissiLetter) January 2, 2025
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