Oregon sees highest credit card delinquency increase in US: Report

Michaela Bourgeois
·2 min read

PORTLAND, Ore. (KOIN) – Oregon leads the nation in rising credit card delinquency over the last year, according to a WalletHub report published Thursday.

While credit card delinquency — or payments that are 30 days past due — may be inevitable, the report explains that delinquency can show that the economy as a whole is struggling.

To track which states are having more trouble paying credit card bills, WalletHub analyzed proprietary user data on consumer delinquency rates from quarter three of 2022 to quarter three of 2023.

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The report ranked Oregon the number one state in the U.S. where credit card delinquency is increasing the most, with an average of 16% of credit cards under delinquency in Q3 of 2023.

Between Q3 2022 and Q3 2023, the average number of delinquent credit cards in Oregon increased by 51%, the report states.

According to WalletHub, credit card delinquency is increasing in Oregon because residents are borrowing more.

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“Oregonians had the 10th highest household debt increase during Q3 2023, and now many people are finding it hard to pay the bills. People in Oregon also increased the frequency of their bankruptcy filings at the second-highest rate in the country during the past year,” the report said.

Wyoming had the second-highest credit card delinquency increase at 49%, followed by Alaska, Utah, and Hawaii to round out the top five highest delinquency list, according to the report.

Meanwhile, Iowa saw a 12% decrease in delinquency with 12% delinquency for Q3 of 2023

“When you are delinquent on credit card debt, it is important to make a game plan to get your account current as soon as possible, as long-term delinquency can lead to severe credit score damage. If you’re late on your payment by fewer than 30 days, paying before the 30th day will keep your delinquency from being reported to the credit bureaus. Beyond that, you should pursue strategies like a hardship program, cutting expenses, and consolidating debt to get your account current, though getting approved for a decent loan or balance transfer credit card might be difficult if you already have a lot of debt or you’ve missed payments,” said WalletHub Editor John Kiernan.

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