Credit card issuers are facing a tough year ahead. Despite signs that the economy is rebounding, and inflation is slowing down, consumers continue to face multiple challenges in balancing their budgets post-pandemic. Student loan payments restarted, the effects of inflation on their income, and high interest rate continue to hurt American families who have to prioritize which payments are made and which are pushed to another date.
Delinquencies are at pre-pandemic levels and rising, which put credit card issuers on a tight rope. Sure, there are signs that the economy is not spiraling into a full recession, but how long can the economy maintain its stability when so many are in debt?
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