Credit card delinquency expected to increase in 2023

Delinquency rates on personal loans and credit cards are set to rise this year.

Over the shoulder view of young woman shopping online for flight tickets on airline website with laptop
(Image credit: Getty)

Many more credit card holders will face serious credit card delinquency this year, in a report on the consumer credit market from TransUnion. In 2023, serious credit card delinquencies — usually defined as being more than 30 to 90 days late — are expected to rise from 2.1% to 2.60%, the highest they’ve been since 2010. Delinquency rates on personal loans are also expected to rise, to 4.3% from 4.1%.

Despite this, there are some bright spots in the report. Auto loan delinquency rates are expected to decline in 2023 and, despite everything, the survey shows that more than 52% of Americans are optimistic about their financial future in the coming year. 

Subscribe to Kiplinger’s Personal Finance

Be a smarter, better informed investor.

Save up to 74%

Sign up for Kiplinger’s Free E-Newsletters

Profit and prosper with the best of expert advice on investing, taxes, retirement, personal finance and more - straight to your e-mail.

Profit and prosper with the best of expert advice - straight to your e-mail.

Sign up

To continue reading this article
please register for free

This is different from signing in to your print subscription

Why am I seeing this? Find out more here

Erin Bendig
Personal Finance Writer

Erin pairs personal experience with research and is passionate about sharing personal finance advice with others. Previously, she was a freelancer focusing on the credit card side of finance, but has branched out since then to cover other aspects of personal finance. Erin is well-versed in traditional media with reporting, interviewing and research, as well as using graphic design and video and audio storytelling to share with her readers.