Chart 3. Credit Card Chargeoff Rates Have Moved Higher With Record Personal Bankruptcy Filings
  Credit Card
Charge-off Rate
Personal Bankruptcy
Filings per 1,000 Population
1989 3.12% 0.58
  3.22% 0.64
  3.04% 0.62
  3.33% 0.65
1990 3.19% 0.67
  3.28% 0.72
  3.46% 0.99
  3.88% 0.78
1991 4.20% 0.84
  4.69% 0.90
  4.76% 0.85
  4.94% 0.86
1992 4.89% 0.91
  5.13% 0.91
  4.24% 0.86
  4.58% 0.83
1993 4.10% 0.79
  3.94% 0.82
  3.61% 0.77
  3.46% 0.74
1994 3.39% 0.73
  3.08% 0.77
  2.94% 0.74
  3.10% 0.72
1995 2.92% 0.75
  3.34% 0.83
  3.56% 0.83
  4.01% 0.87
1996 4.22% 0.94
  4.60% 1.05
  4.47% 1.08
  4.73% 1.11
1997 5.02% 1.18
  5.57% 1.30
  5.35% 1.25
  5.83% 1.23
1998 5.25% 1.24
  5.23% 1.31
  5.24% 1.27
  5.31% 1.24
1999 5.06% 1.15
  4.51% 1.20
  4.42% 1.13
  4.61% 1.11
2000 4.67% 1.07
  4.18% 1.11
  4.58% 1.07
  5.34% 1.07
2001 3.68% 1.25
  5.22% 1.37
  5.22% 1.23
  6.34% 1.25
2002 7.67% 1.28
  6.07% 1.36
  5.71% 1.36
  5.44% 1.34
2003 5.58% 1.41
  5.88% 1.50

Source: Administrative Office of the U.S. Courts; U.S. Census Bureau; Federal Reserve Board (Haver Analytics)