Borrowers with low credit scores are defaulting on payments for car loans, personal loans and credit cards, a sign that the healthiest consumer lending environment on record is coming to an end WSJWhatsNow
Borrowers with limited or troubled credit histories are defaulting on credit cards, car loans and personal loans
Americans have massively increased the amount of credit they've taken on this year. With prices expected to continue rising, this could be flashing a warning sign about the economy. WSJ’s Dion Rabouin examines these trends and explains what they tell us. Photo composite: Elizabeth SmelovConsumers with low credit scores are falling behind on payments for car loans, personal loans and credit cards, a sign that the healthiest consumer lending environment on record in the U.S.
The share of subprime credit cards and personal loans that are at least 60 days late is rising faster than normal, according to credit-reporting firm Equifax Inc. In March, those delinquencies rose month over month for the eighth time in a row, nearing their prepandemic levels.
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