The Spread
36 — up from 29 a year ago, credit card trouble spreading geographically
What is the current The Spread?
The number of U.S. states where credit card delinquency exceeds 10% is a geographic concentration measure of household debt distress. When delinquency crosses 10% at the state level, it indicates that debt problems have spread beyond individual borrowers to affect the broader regional economy. Source: NY Fed Consumer Credit Panel.
The Spread rising to 36
Tracking worsening relative to recent baseline.
Explore Further
How has The Spread changed over time?
| Period | Value | YoY Change |
|---|---|---|
| 2025 | 36 | +7.00 |
| 2024 | 29 | +16.00 |
| 2023 | 13 | +12.00 |
| 2022 | 1 | −2.00 |
| 2021 | 3 | −5.00 |
| 2020 | 8 | +5.00 |
| 2019 | 3 | +2.00 |
| 2018 | 1 | +0.00 |
| 2017 | 1 | +0.00 |
| 2016 | 1 | −2.00 |
| 2015 | 3 | +0.00 |
| 2014 | 3 | −6.00 |
Frequently Asked Questions
How many states have credit card delinquency above 10%?
The count of states exceeding the 10% credit card delinquency threshold is tracked quarterly using New York Fed Consumer Credit Panel data. A rising count indicates that debt distress is spreading geographically rather than being concentrated in a few regions.
Why does geographic spread matter?
Concentrated distress can be managed — states and institutions can absorb localized problems. When delinquency rises above 10% in multiple states simultaneously, it indicates systemic rather than regional stress, reducing the capacity of any single policy response to address the problem.
Where does the state-level delinquency data come from?
The New York Fed's Consumer Credit Panel provides quarterly credit performance data at the state level, drawn from a nationally representative sample of Equifax credit reports.
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