The Philadelphia Federal Reserve just released its Q4 Credit Card Report and the results are shocking. The fourth quarter of 2023 recorded the lowest performance in card metrics, with delinquencies at all account stages reaching unprecedented levels. The only exception was the 90+ day balance-based delinquency rate, which remained below its peak from over ten years ago. Looking throughout the report it’s pretty easy to see that Americans are struggling with credit card debt with nearly all aspects of the report turning sour.