wh-statistic-national-credit-card-delinquency-charge-off-ratesYou can’t get an accurate sense of the consumer debt situation without considering credit card delinquency and charge-off rates. These metrics speak to the sustainability of consumer spending habits, indicating the ability of credit card users to stay current on their bills. For example, high delinquency rates may foreshadow a rash of defaults as well as the potential for a downturn in the economy, while a downward trend in default rates could indicate economic or habitual improvement.

Furthermore, consumers continue to owe charged-off debt for years, which means ignoring such sums will paint a misleading picture of the debt landscape.

Annual Credit Card Charge-off 2009 – 2019 — Not Seasonally Adjusted (in Billions)

(Source: Federal Reserve 2019, Fitch Ratings)
*2019 data is incomplete and reflects most recent reported amounts.

Credit Card Charge-off Quarterly 2009 – 2019 — Not Seasonally Adjusted

Year Dollar Amount Q1 Dollar Amount Q2 Dollar Amount Q3 Dollar Amount Q4 Total
2019 $9,428,969,814 $9,676,870,248 $8,927,217,587 N/A ‭$28,033,057,649‬*
2018 $9,042,928,871 $9,018,148,730 $8,508,481,967 $9,214,264,045 $35,783,823,613
2017 $8,166,419,893 $8,501,258,650 $7,988,104,468 $9,090,355,844 $33,746,138,855
2016 $6,757,032,024 $6,906,613,207 $6,423,715,388 $8,181,687,479 $28,269,048,098
2015 $6,284,189,770 $6,480,072,773 $6,010,661,941 $6,464,633,986 $25,239,558,470
2014 $6,628,482,414 $7,072,545,019 $5,999,938,735 $6,483,416,790 $26,184,382,957
2013 $7,405,966,134 $7,210,617,618 $6,395,116,735 $6,972,774,612 $27,984,475,100
2012 $8,371,876,328 $8,160,339,824 $7,406,113,044 $7,782,609,522 $31,720,938,718
2011 $13,502,618,356 $10,940,307,705 $11,107,626,370 $9,326,660,323 $44,877,212,754
2010 $21,977,227,136 $22,605,466,693 $17,365,814,336 $15,829,671,870 $77,778,180,033
2009 $17,554,893,261 $22,198,297,435 $22,678,132,551 $22,870,311,106 $85,301,634,353

(Source: Federal Reserve 2019, Fitch Ratings)
*2019 data is incomplete and reflects most recent reported amounts.

Annual Credit Card Delinquency and Charge-off Rates 1989 – 2018 — Not Seasonally Adjusted

(Source: Federal Reserve, May 2019)

Quarterly Credit Card Delinquency and Charge-off Rates 1989 – 2019 — Not Seasonally Adjusted

Year Delinquency and charge off rate Q1 Q2 Q3 Q4 Annual Average
2019

Delinquency Rate

2.59 2.42 2.62 N/A N/A

Charge Off Rate

3.83 3.83 3.49 N/A N/A
2018

Delinquency Rate

2.54 2.35 2.54 2.63 2.52

Charge Off Rate

3.8 3.74 3.46 3.57 3.64
2017

Delinquency Rate

2.42 2.35 2.57 2.56 2.48

Charge Off Rate

3.59 3.64 3.37 3.63 3.56
2016

Delinquency Rate

2.16 2.09 2.33 2.44 2.26

Charge Off Rate

3.16 3.13 2.86 3.51 3.17
2015

Delinquency Rate

2.13 2.01 2.18 2.23 2.14

Charge Off Rate

3.03 3.03 2.76 2.91 2.93
2014

Delinquency Rate

2.33 2.15 2.23 2.22 2.23

Charge Off Rate

3.32 3.45 2.89 2.98 3.16
2013

Delinquency Rate

2.67 2.41 2.47 2.45 2.52

Charge Off Rate

3.78 3.62 3.19 3.33 3.48
2012

Delinquency Rate

3.10 2.79 2.84 2.78 2.90

Charge Off Rate

4.29 4.15 3.74 3.78 3.99
2011

Delinquency Rate

3.89 3.50 3.47 3.32 3.54

Charge Off Rate

6.96 5.58 5.63 4.53 5.68
2010

Delinquency Rate

5.88 4.90 4.59 4.22 4.90

Charge Off Rate

10.16 10.97 8.55 7.70 9.35
2009

Delinquency Rate

6.61 6.53 6.51 6.43 6.52

Charge Off Rate

7.62 9.77 10.10 10.12 9.40
2008

Delinquency Rate

4.80 4.74 4.83 5.72 5.02

Charge Off Rate

4.70 5.47 5.62 6.30 5.52
2007

Delinquency Rate

3.96 3.90 4.45 4.68 4.25

Charge Off Rate

3.93 3.85 4.05 4.15 4.00
2006

Delinquency Rate

3.80 4.01 4.17 4.05 4.01

Charge Off Rate

3.13 3.52 3.87 4.03 3.64
2005

Delinquency Rate

3.62 3.56 3.95 3.65 3.70

Charge Off Rate

4.63 4.35 4.33 6.05 4.84
2004

Delinquency Rate

4.10 4.02 4.12 4.20 4.11

Charge Off Rate

5.38 5.39 4.67 4.71 5.04
2003

Delinquency Rate

4.57 4.38 4.29 4.62 4.47

Charge Off Rate

5.77 6.11 5.40 6.07 5.84
2002

Delinquency Rate

4.85 4.61 4.96 5.05 4.87

Charge Off Rate

7.85 6.27 6.94 5.63 6.42
2001

Delinquency Rate

4.75 4.75 5.09 4.86 4.86

Charge Off Rate

4.77 5.24 5.25 6.43 5.42
2000

Delinquency Rate

4.35 4.32 4.62 4.70 4.5

Charge Off Rate

4.62 4.24 4.29 4.70 4.46
1999

Delinquency Rate

4.61 4.29 4.64 4.63 4.54

Charge Off Rate

5.04 4.38 4.40 4.64 4.62
1998

Delinquency Rate

4.72 4.56 4.80 4.82 4.73

Charge Off Rate

5.26 5.08 5.24 5.30 5.22
1997

Delinquency Rate

4.67 4.55 4.77 4.90 4.72

Charge Off Rate

4.92 5.40 5.38 5.60 5.33
1996

Delinquency Rate

4.04 4.12 4.53 4.68 4.34

Charge Off Rate

4.21 4.53 4.45 4.73 4.48
1995

Delinquency Rate

3.48 3.57 3.90 3.99 3.74

Charge Off Rate

2.94 3.33 3.63 4.01 3.48
1994

Delinquency Rate

3.62 3.18 3.29 3.30 3.35

Charge Off Rate

3.29 3.06 2.92 3.13 3.10
1993

Delinquency Rate

4.63 4.33 4.14 3.91 4.25

Charge Off Rate

4.09 3.90 3.58 3.39 3.74
1992

Delinquency Rate

5.31 4.96 5.04 4.70 5.00

Charge Off Rate

4.91 4.93 4.38 4.58 4.70
1991

Delinquency Rate

5.29 5.32 5.41 5.30 5.33

Charge Off Rate

4.18 4.68 4.75 4.69 4.58
1990

Delinquency Rate

Charge Off Rate

3.13 3.28 3.48 3.87 3.44
1989

Delinquency Rate

Charge Off Rate

3.21 3.03 3.31 3.17

(Source: Federal Reserve, May 2019)

Percentage of Consumers with Late and Missed Payments

(Source: NFCC, 2019 Consumer Financial Literacy Survey)

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