Credit cards: Share of balances 90-plus days late hits highest mark since 2011

Credit card trouble is rising: 13.1% of balances were 90+ days past due in Q1 — the highest since 2011 — while total U.S. credit card debt tops $1.25 trillion.
Carrying debt is getting pricier: average credit card interest rates jumped to about 21% (up from ~14.5% in early 2022).
Households are squeezed: the personal saving rate fell to 2.6%, gas prices topped $4.20/gal, inflation is 3.8%, and many say they’ll need to rely on credit to cover expenses.