U.S. credit card debt reaches $1.08 trillion

[Aquaman]

 

[EyBisa]

vayyooo 

[tokkalogola]

Deentlo naa vontu shrama kuda unnanduku santoshistunanu 😂

[Sreeven]

Recession ki idhi reason chestaremo next..

[nag]

1 hour ago, Aquaman said:

 

Credit card debt.. antey.. recovery ki velli kooda..  chethulu etthisina baapatha ?

[Android_Halwa]

A 1.08 trillion dollars la Naa vanthu oka 50k contribute chesina..

[Aquaman]

3 minutes ago, nag said:

Credit card debt.. antey.. recovery ki velli kooda..  chethulu etthisina baapatha ?

 

• Collectively, Americans now owe $1.08 trillion on their credit cards, according to a report from the Federal Reserve Bank of New York.
• Steadily, persistently higher prices have caused consumers to spend down their savings and increasingly turn to credit cards to make ends meet.
• At the same time, credit cards are one of the most expensive ways to borrow money. 

 

Credit card delinquency rates also rose across the board, according to the New York Fed, but especially among millennials, or borrowers between the ages of 30 and 39, who are burdened by high levels of student loan debt.

With most people feeling strained by higher prices — particularly for food, gas and housing — more cardholders are carrying debt from month to month or falling behind on payments, and a greater percentage of balances are going more than 180 days delinquent, according to a separate report from the Consumer Financial Protection Bureau.

[CanadianMalodu]