Credit Card Delinquency Rate For Young Adults Is Rising (via Axios)

Summary:

Based upon a report from Moody’s Investor Services, inflation is hitting young adults. Here’s how:

“Younger borrowers saw the fastest growth last year in both credit card and auto loan balances, per the NY Fed data.”

This leads to a brewing problem for younger consumers and their credit health.

"The tightening of lending standards will hit this particular cohort the hardest," said Claire Li, senior analyst at Moody's.

Read the full article below.