Higher-income credit card users are 10 times more likely than lower-income consumers to miss a payment, according to a survey by the American Bankers Association.

Of the 14% of the consumers who missed a payment, 44% earned at least $50,000 a year, while only 4% earned less than $15,000 annually. The ABA also found that 27% of those missing a payment were 25 to 34 years old, and 29% were 35 to 44 years old. Of those older than 65, only 7% were late with a payment.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.