Credit card debt reaches highest level since 2009

Consumer credit card debt reached $650 billion in Q3 2015 — the highest level since Q4 2009. Credit card limits also increased by 102% during the same time frame, while delinquency rates decreased by 71%.

The increase in credit card debt and limits combined with lower delinquencies points to a positive economic outlook. Lenders should stay abreast of the latest credit trends in order to adjust lending strategies and capitalize on areas of opportunity.

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