Credit card delinquencies have surged above pre-pandemic levels, particularly among heavily indebted borrowers. Interest rates on credit cards have hit a record high of 21.6%, with default rates at 3.16%, surpassing pre-pandemic levels. The percentage of credit card balances in serious delinquency, 90 days or more late, is at its highest since 2012, according to the NYFed. Despite positive signs for consumer health, delinquent credit card debt continues to rise, indicating a concerning trend.