Late Payments on US Credit Cards Reach Record High Levels
Growing signs of trouble in the credit card debt sector are documented in Fitch ratings’ latest monthly Credit Card Movers & Shakers report. However, Fitch does not expect many negative ratings actions in the short term.
“Late payments on U.S. credit cards topped record levels and defaults rose sharply to just below all time highs last month as consumers struggled further amid the deteriorating economic environment.”
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