Millennials Increasingly Late on Credit Card Payments

Bloomberg reports that the charge-off rate among card issuers in Q1 2019 increased to the highest level in almost seven years; some are cautioning that the length of the recent economic expansion is having an effect on how consumers are viewed, potentially hiding risky borrowers; interestingly though, millennials are the ones becoming increasingly at least 90 days late on credit card payment; some aren’t as concerned about the recent uptick, saying that the reason is twofold: more younger borrowers entering the market and delinquency rates increasing from historically low levels; we still are below pre-financial-crisis levels. Source