Over the last year, roughly 9.1% of credit card balances transitioned into delinquency, the New York Fed reported.
    • MutilationWave@lemmy.world
      6·
      1 month ago

      That is indeed how averages work. For example I commonly have 10k worth of credit card “debt” which is just stuff my company reimburses me for and will be paid in full on the due date. I’m skewing this average because in reality I have no debt.