_american-credit-card-debt-surpasses-361-trillion-as-young-adults-struggle-to-cover-costs-of-housing-student-loans.jpg "American Credit Card Debt Surpasses $1 Trillion, as Young Adults Struggle to Cover Costs of Housing, Student Loans from new york and company and mp3 Video Screenshot Preview")
GalleryPlay Video:
(Note: The default playback of the video is HD VERSION. If your browser is buffering the video slowly, please play the REGULAR MP4 VERSION or Open The Video below for better experience. Thank you!)
⏲ Duration: 0:40
👁 View: 1.3M times
✓ Published: 17-May-2024
👁 View: 1.3M times
✓ Published: 17-May-2024
Description:
Americans owe over $1 trillion collectively in credit card debt, the Federal Reserve Bank of New York reported Tuesday. The average credit card balance per consumer exceeds $6,000, up 8.5% from the previous year. More borrowers are falling behind on credit card payments, with less than 9% of balances transitioning to delinquency. Serious delinquencies past 90 days reached their highest level since 2010. Younger adults have taken on more debt to cover the rising rent costs, student loans, and auto loans. Credit cards charging an average of 20% interest are typically the most expensive debt.
Americans owe over $1 trillion collectively in credit card debt, the Federal Reserve Bank of New York reported Tuesday. The average credit card balance per consumer exceeds $6,000, up 8.5% from the previous year. More borrowers are falling behind on credit card payments, with less than 9% of balances transitioning to delinquency. Serious delinquencies past 90 days reached their highest level since 2010. Younger adults have taken on more debt to cover the rising rent costs, student loans, and auto loans. Credit cards charging an average of 20% interest are typically the most expensive debt.
Share with your friends:
Whatsapp | Viber | Telegram | Line | SMS
Email | Twitter | Reddit | Tumblr | Pinterest
_pitch-invading-raccoon-captured-with-bin-after-interrupting-football-game.webp "A pitch-invading raccoon was captured with a bin during a USA football match.Source: Apple TV")
_electronic-prescription-company-medisecure-hacked.webp "An investigation is underway after a large-scale hack of electronic prescriptions company MediSecure.")
_challenge-cup-semi-finals-weekend-preview-with-the-yp39s-james-o39brien.webp "The Yorkshire Post's rugby league writer, James O'Brien, looks ahead to the Challenge Cup semi-finals. In the men's draw, Hull KR face Wigan Warriors while Huddersfield Giants take on Warrington Wolves. <br/>In the women's draw, York Valkyrie battle with St Helens as Leeds Rhinos come up against Wigan Warriors.")
_company-director-charged-with-cheating-pensioner-involving-rm1-5-million.webp "A director of an engineering company pleaded not guilty in the Kuala Lumpur Sessions Court on Friday (May 17) to a charge of cheating a pensioner over a supply project for Petronas involving RM1.5 million last year.<br/><br/>Yusmadi Yusof@Othman, 43, was charged with cheating Tan Sri Mohd Khamil Jamil, 68, by deceiving the latter into believing that the project was profitable, while the accused knew that there was no approval letter from Petronas regarding the project.<br/><br/>Read more at https://tinyurl.com/5n8h33wk<br/><br/>WATCH MORE: https://thestartv.com/c/news<br/>SUBSCRIBE: https://cutt.ly/TheStar<br/>LIKE: https://fb.com/TheStarOnline")
_aaron-judge39s-stellar-performance-and-impact-on-the-yankees.webp "Aaron Judge's Stellar Performance and Impact on the Yankees from new york and company and mp3")
_murder-company-bande-annonce-vo.webp "Murder Company Bande-annonce VO from new york and company and mp3")
_knicks-win-by-30-insights-from-jalen-brunson-on-the-performance.webp "Knicks Win by 30: Insights from Jalen Brunson on the Performance from new york and company and mp3")
_yankees-lead-twins-dodgers-at-bullpen-game-tonight.webp "Yankees Lead Twins; Dodgers at Bullpen Game Tonight from new york and company and mp3")
_pitch-invading-raccoon-captured-with-bin-after-interrupting-football-game.jpg)
_electronic-prescription-company-medisecure-hacked.jpg)
_challenge-cup-semi-finals-weekend-preview-with-the-yp39s-james-o39brien.jpg)
_company-director-charged-with-cheating-pensioner-involving-rm1-5-million.jpg)
_aaron-judge39s-stellar-performance-and-impact-on-the-yankees.jpg)
_murder-company-bande-annonce-vo.jpg)
_knicks-win-by-30-insights-from-jalen-brunson-on-the-performance.jpg)
_yankees-lead-twins-dodgers-at-bullpen-game-tonight.jpg)
![[+]](/images/menu.gif){kind=small}