Subprime Credit Card Delinquencies Have Fallen

Jordan Pandolfo
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Jordan Pandolfo: https://www.kansascityfed.org/research-staff/jordan-pandolfo/

Economic Bulletin, 2025, 3

Abstract: Credit card delinquencies rose steadily for subprime borrowers from March 2022, when monetary policy tightening began, to November 2024. As of January 2025, however, the subprime delinquency rate has fallen for two consecutive months. This fall coincided with declines in both subprime credit card purchases as well as the annual percentage rate (APR) for subprime credit cards. Together, these declines suggest subprime borrowers had lower demand for credit card financing in recent months.

Date: 2025
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