Thursday, October 30, 2008

Super-cool dynamic map of credit card delinquencies

Last month I wrote a piece that was highlighted in Paul Krugman’s NY Times The Conscience of a Liberal blog, where I argued that overly run-up lines of revolving credit will be the next shoe to drop in the credit crunch.

Well, clearly the Fed is worried about this because they published a super-cool dynamic map of credit card delinquency rates on the NY Fed’s website.

According to the map, in Suffolk County, Massachusetts – where I live – 2.48% of all credit card loans are 60+ days delinquent. Fortunately that is not me, but obviously this is a problem when the labor market is expected to post its tenth month of decline in October. The top delinquency rate is Shannon, South Dakota, where 11.19% of all credit card loans are 60+ days delinquent. This data is current as of the first quarter, and I expect that these delinquency rates have changed a bit (probably risen).

Here are the top 25 U.S. counties in terms of credit card delinquency rates:

The bad news just keeps on coming. What does your county look like?

Rebecca Wilder


  1. Not too bad at 2.18% The map also has the morgage delinquency rates, too! Interesting that, with the exception of one in each in ND and SD (oh, and Alaska), the highest ones are in the south. Why the regional problem?

  2. Actually, 40% of the top 25 are in Mississippi! There is likely a direct correlation between credit card delinquency rates and per capita income across the U.S.

    Thanks for reading, R

  3. Makes sense to me. Odd how there is still a push to open new credit cards, although some stores are not mentioning it every time you shop. What do you think of the dooms day bunch that are predicting a 12 - 15 year recession?