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.
Capital One Financial reported a 30-day delinquency rate of 3.13% in the second quarter of 2026, signaling an improvement from the previous year. While this metric is encouraging, a deeper analysis by the Federal Reserve reveals a more complex picture. Synchrony Financial, a company specializing in store cards with higher risk, had a 30-day delinquency rate of 4.16%, which is also a slight improvement compared to the previous year.
Despite both companies showing year-over-year progress, Synchrony's rate remains higher due to the riskier nature of their credit offerings. This Federal Reserve report offers a more nuanced perspective on delinquency trends beyond just Capital One's performance.
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