Young Americans continued to make up the largest share of those transitioning into credit card delinquency in the second quarter, according to a report released by the New York Federal Reserve .

Despite ticking down slightly from the previous quarter, the report showed that nearly 10% of credit card balances held by Americans aged 18-29 became 90 or more days overdue in the second quarter.

New York Fed researchers said credit card delinquency rates for Americans under 40 have been "unusually elevated," adding they are keeping a "close eye" on the trend.

The rate of balances transitioning into serious delinquency for 18-29-year-olds has hovered around the 10% mark since 2023. Before then, the last time the rate eclipsed 10% was in 2010.

The report comes after data painted an increas

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