You 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 — Not Seasonally Adjusted (in Billions)
Credit Card Charge-Off Quarterly — Not Seasonally Adjusted (in Billions)
| Year | Dollar Amount Q1 | Dollar Amount Q2 | Dollar Amount Q3 | Dollar Amount Q4 | Total |
|---|---|---|---|---|---|
| 2022 | $4.56 | $5.25 | $5.34 | $7.19 | $22.34 |
| 2021 | $6.59 | $5.92 | $3.97 | $4.01 | $20.49 |
| 2020 | $9.74 | $9.36 | $7.72 | $6.16 | $32.98 |
| 2019 | $9.43 | $9.67 | $8.93 | $9.77 | $37.80 |
| 2018 | $9.04 | $9.01 | $8.51 | $9.22 | $35.78 |
| 2017 | $8.07 | $8.41 | $7.90 | $9.04 | $33.42 |
| 2016 | $6.69 | $6.84 | $6.36 | $8.12 | $28.01 |
| 2015 | $6.21 | $6.40 | $5.95 | $6.40 | $24.96 |
| 2014 | $6.62 | $7.07 | $6.00 | $6.48 | $26.17 |
| 2013 | $7.40 | $7.21 | $6.39 | $6.97 | $27.97 |
| 2012 | $8.37 | $8.16 | $7.40 | $7.78 | $31.71 |
| 2011 | $13.50 | $10.94 | $11.10 | $9.32 | $44.87 |
| 2010 | $21.98 | $22.61 | $17.36 | $15.83 | $77.78 |
| 2009 | $17.55 | $22.20 | $22.68 | $22.87 | $85.30 |
Annual Credit Card Delinquency and Charge-Off Rates — Not Seasonally Adjusted
Quarterly Credit Card Delinquency and Charge-Off Rates — Not Seasonally Adjusted
| Year | Delinquency and charge off rate | Q1 | Q2 | Q3 | Q4 | Annual Average |
|---|---|---|---|---|---|---|
| 2022 |
Delinquency Rate
|
1.73 | 1.71 | 2.07 | 2.34 | 1.96 |
|
Charge Off Rate
|
1.82 | 1.97 | 1.94 | 2.44 | 2.04 | |
| 2021 |
Delinquency Rate
|
1.93 | 1.48 | 1.54 | 1.62 | 1.64 |
|
Charge Off Rate
|
2.95 | 2.54 | 1.67 | 1.57 | 2.18 | |
| 2020 |
Delinquency Rate
|
2.76 | 2.28 | 2 | 2.18 | 2.31 |
|
Charge Off Rate
|
3.91 | 4.04 | 3.34 | 2.53 | 3.46 | |
| 2019 |
Delinquency Rate
|
2.59 | 2.42 | 2.62 | 2.70 | 2.58 |
|
Charge Off Rate
|
3.83 | 3.83 | 3.49 | 3.65 | 3.70 | |
| 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 | 3.15 | |
| 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 | 2.88 |
|
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 |
Percentage of Consumers With Late and Missed Payments