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News@lemmy.world · 5 months ago

Banks are bracing for consumers to stop paying off their credit cards, delinquency rates hit 12-year high

cross-posted to:
personalfinance@lemmy.ml

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Banks are bracing for consumers to stop paying off their credit cards, delinquency rates hit 12-year high

return2ozma@lemmy.world to

News@lemmy.world · 5 months ago

cross-posted to:
personalfinance@lemmy.ml

Banks are bracing for consumers to stop paying off their credit cards

Provisions for credit losses rose at JPMorgan, Citi, Wells Fargo, and Bank of America last quarter

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Tramort@programming.dev
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5 months ago
It can’t affect your credit score, because it’s not a loan.

If it was a loan they would be subject to ursery laws. But they don’t want to be. So you can default without penalty besides being hounded.

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