Credit cards

The competing stories on consumer credit

Data: Federal Reserve; Chart: Axios Visuals

Credit card delinquency rates in Q1 hit the highest level since 2012, with total household debt rising to nearly $14 trillion.

What it means: Torsten Slok, chief economist at Deutsche Bank Securities, warns that creeping delinquency rates, and the "associated increase in interest rates on credit cards and auto loans will begin to weigh on consumer spending." While consumers are taking on more debt, Fed data also shows that delinquency rates on mortgages are at their lowest level since 2006, despite housing debt rising to $9.7 trillion in the first quarter.

Go deeper: Signs of credit crisis grow

Brex raises $100 million

Brex, a San Francisco-based provider of industry-specific corporate credit cards, raised $100 million at a $2.6 billion post-money valuation. Kleiner Perkins Digital Growth led, and was joined by fellow return backers YC Continuity, Ribbit Capital, DST Global, Greenoaks Capital and IVP. The company previously raised $125 million last fall at a $1.1 billion post-money valuation.

Why it matters: Because it reflects how lending-related startups believe they need fortress balance sheets, much like what we recently saw with SoFi.