Except that it’s currently at 3.5%. The last time it was that high was 2012… and every quarter since at least the 2000s. We had record lows of delinquency during the pandemic as people paid cards down heavily with their government stimulus. While that was a wealth transfer, this isn’t any kind of an indicator more than it’s one from Forbes trying to spook average Americans so they can buy up more property when it collapses again. Link