Goldman Sachs predicts credit card losses will continue to climb through the end of 2024 or early 2025 for most issuers.
Goldman Sachs predicts credit card losses will continue to climb through the end of 2024/early 2025.Credit card losses currently stand at 3.63%, up 1.5 percentage points from the bottom.
Credit card companies are racking up losses at the fastest pace in almost 30 years, outside of the Great Financial Crisis, according to Goldman Sachs. Credit card losses bottomed in September 2021 and while initial increases were likely reversals from stimulus, they have been rapidly rising since the first quarter of 2022. Since that time, it's an increasing rate of losses only seen in recent history during the recession of 2008.Get Tri-state area news and weather forecasts to your inbox.
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