Credit-card debt in the US rose in June to surpass the peak set just before the 2008 financial crisis.
Andy Kiersz/Business Insider; data from the Federal Reserve
Outstanding revolving credit, which includes credit-card debt, rose to $1.02 trillion in June, according to a monthly report from the Federal Reserve released on Monday.
Missed debt payments have declined from the recession era, when several homes were foreclosed on because their owners got loans they wouldn’t have qualified for with tighter rules.
But defaults are rising again for credit cards and auto loans. The New York Federal Reserve observed a 7.5% rise in the share of credit-card balances that were seriously delinquent in the first quarter, or at least 90 days past due.
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