Roughly one-third of credit card holders were delinquent on their payments in 2023, up from 25% in 2019, data from the New York Federal Reserve shows.

Eighteen percent maxed out their credit cards in the first quarter of 2024, tapping into 90% or more of their available credit. However, 50% had used less than 20% of their available credit.

Younger borrowers and those in low-income areas were the most likely to max out their credit cards, the New York Fed said.

Total household debt in the first quarter rose by $184 billion, or 1.1%, to $17.69 trillion.

“In the first quarter of 2024, serious delinquency rates on credit cards and auto loans continued to rise across all age groups,” said Joelle Scally, regional economic principal with the New York Fed. “An increasing number of borrowers missed credit card payments, revealing worsening financial distress among some households.”

Annualized, in the first quarter of 2024, 8.9% of credit card balances and 7.9% auto loans became delinquent. However, delinquency rates for mortgages ticked up by only 0.3 percentage points in the quarter and remain low by historic standards.

Balances on home equity lines of credit (HELOC) loans increased by $16 billion, the eighth consecutive quarterly increase since the first quarter of 2022, to a total of $376 billion.

Credit card balances decreased by $14 billion to $1.12 trillion.

Auto loan balances increased by $9 billion to $1.62 trillion, continuing the upward trajectory begun in 2020.