The latest data from the Federal Reserve Bank of Philadelphia indicates that an increasing number of Americans are facing challenges in meeting their monthly credit card obligations, with delinquency rates reaching their highest levels since 2012. This trend is attributed to factors such as high inflation and interest rates, which have led to growing stress among cardholders. The rise in delinquencies is accompanied by an increase in revolving balances and a higher percentage of accounts making only minimum payments. With the average credit card APR remaining at a record-high of 20.75%, consumers may end up paying significantly more for items in the long run if they carry debt. While the Federal Reserve has pursued aggressive interest rate hikes to combat inflation, policymakers anticipate potential rate cuts once inflation is under control. However, inflation remains a significant challenge for many households, particularly low-income Americans, who bear the brunt of rising prices for essential goods and services.