Oregon Sees Sharpest Rise in Credit Card Delinquencies as High Debt and Interest Rates Take Toll
-
Oregon had the largest year-over-year increase (51%) in credit card delinquencies across all 50 states between September 2022 and September 2023
-
Mississippi had the highest percentage (39.14%) of delinquent credit card accounts overall as of September 2023
-
After Oregon, Wyoming (49.74% increase) and Alaska (48.88% increase) saw the second and third largest rises in delinquent accounts
-
High debt levels coupled with rising interest rates are key factors behind increased delinquencies
-
Being delinquent on payments can severely damage credit scores; communicating early with creditors can help avoid falling behind