1 In 7 Gen Z Credit Card Users Are ‘Maxed Out’

More and more Americans of all ages are falling behind on their bills — especially credit card bills. The NY Fed found that for all debt outside of student loans, delinquency rates have been steadily rising since tumbling to historic lows during the Covid-19 pandemic.

Credit card delinquencies have surpassed pre-pandemic levels and continue to rise. Severe credit card delinquencies, those 90 days overdue, have now climbed to 10.7% — the highest since 2012.

The findings show how pockets of financial stress continue to emerge in the US economy following three years of high inflation.

“It is worrisome that so many Gen Zers are falling behind,” said Ted Rossman, senior industry analyst at” We’re seeing more people financing daily essentials such as groceries and gas, and this can be a tough cycle to break.”

Even as stocks on Wall Street hit historic highs and unemployment remains unusually low, millions of Americans are struggling with the cost of living.

“The rise in severe delinquencies — those over 90 days overdue — is a cause for concern,” said Gregory Daco, chief economist at EY.

Read full story at CNN News.