A record-high percentage of U.S. households are making only minimum payments on their credit cards, according to new data released by Apollo Global Management Inc. Chief Economist Torsten Slok.
What Happened: In a report titled “How are U.S. consumers and firms responding to tariffs?” Slok highlighted Federal Reserve data showing the share of accounts making only minimum payments has climbed above 11% as of the first quarter of 2025, the highest level recorded since tracking began in 2012.
The trend shows a clear upward trajectory over the past decade, with a brief dip during the early pandemic period in the second quarter of 2020, followed by an accelerated rise to current record levels.
This growing …