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BREAM: The Journal says percentage of delinquent credit card balances is 13%, the highest in 15 years. People are using them for necessities. Your message to them? HASSETT: We talk to CEOs of the credit card companies all the time, and there's not any threat to them. People are taking a bit longer.

“We talk to the CEOs of the credit card companies” is the antithesis of a flex.

It's not even a rebuttal it's just "yep, the credit card companies are making more! It's fantastic!"

As a former credit card exec I can assure you that delinquency rates like this are terrifying from the company perspective

ehh they're charging 20-30% interest yearly on the rest of them, they'll be fine. it's everyone else who won't be

I've been in the industry for 30 years. It's the volatility that's a problem. They essentially bake in the likelihood of default when they issue the credit. But dw they'll find a way to offload the "bad debt" they issued and fuck working people like they did with mortgages in the early aughts 😌