Maxed-Out Americans Are Missing Payments

Americans who've maxed out their credit cards are starting to miss payments. That's not particularly surprising, but it's worth mentioning in the context of the highest credit card rates on record and a mountainous pile of revolving debt. Total credit card balances fell in Q1, according to the NY Fed's quarterly debt report, released on Tuesday. Don't celebrate. That's a seasonal phenomenon, although those of you old enough to remember last year might recall that balances in fact didn't fall i