Rise in Buy Now, Pay Later Loans for Groceries and Late Payments

A growing number of Americans are turning to buy now, pay later loans to purchase groceries, leading to an increase in late payments. Consumers are facing challenges due to inflation, high interest rates, and economic uncertainty. Concerns arise about the impact of using these loans on financial stability.

Credit Card Delinquency Rates in the U.S.

Delinquency rates among American credit card holders are at an all-time high, with a record number of active accounts having a balance of over $2,000. The Federal Reserve Bank of Philadelphia report highlights stress among cardholders, with increasing late payments and decreasing credit scores.