Credit card delinquencies are increasing

Rising credit card troubles are a sign that some consumers are feeling more financial stress — a worrying indicator for an economy that's been powered by strongIt's also a bit puzzling that delinquencies are rising, hovering at rates last seen during theIt's likely that high inflation and rising interest rates are starting to hurt lower-income Americans —An annualized 8.9% of credit card balances and 7.

The average credit card charges a near-record 20.66% interest rate, per Bankrate. And 44% of borrowers carry a balance from month to month.New York Fed officials said they weren't sure exactly why delinquency rates were rising, but on a call with reporters Tuesday, they offered a few possibilities:

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