_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 eac hempstead new york 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: 1.7M times
✓ Published: 17-May-2024
👁 View: 1.7M 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
_dublin-to-new-york-city-portal-temporarily-shut-down-due-to-inappropriate-behavior.webp "A portal linking New York City to Dublin via a livestream has been temporarily shut down after inappropriate behavior ensued, according to the Dublin City Council.")
_new-york-times-poll-indicates-trouble-for-biden.webp "‘New York Times’ Poll , Indicates Trouble for Biden.<br/>Donald Trump was found to be \")
_knicks-vs-pacers-who-will-triumph-in-eastern-conference-clash.webp "Knicks vs. Pacers: Who Will Triumph in Eastern Conference Clash? from eac hempstead new york")
_household-debt-and-delinquency-reach-alarming-heights-as-rates-surge-in-q1.webp "Household debt and delinquency rates increased in the first quarter, according to data from the New York Federal Reserve. Credit card balances in serious delinquency, or more than 90 days late, reached the highest level since 2012 while delinquency rates across all debt types rose. Overall household debt grew to over $17 trillion driven by rising mortgage balances, though credit card debt dipped post-holidays. Delinquency transition rates remain below Great Recession peaks but are higher than pre-pandemic levels.")
_knicks-underdogs-in-pivotal-game-vs-pacers-tonight.webp "Knicks Underdogs in Pivotal Game vs Pacers Tonight from eac hempstead new york")
_moment-police-rescue-man-on-new-york-subway-tracks.webp "Watch the moment when Police jump on the tracks on NYC subway to rescue of man having medical episode @NYPDnews")
_carolina-favored-in-game-6-against-rangers-analysis.webp "Carolina Favored in Game 6 Against Rangers: Analysis from eac hempstead new york")
_game-5-preview-rangers-vs-hurricanes-at-madison-square-garden.webp "Game 5 Preview: Rangers vs. Hurricanes at Madison Square Garden from eac hempstead new york")
_dublin-to-new-york-city-portal-temporarily-shut-down-due-to-inappropriate-behavior.jpg)
_new-york-times-poll-indicates-trouble-for-biden.jpg)
_knicks-vs-pacers-who-will-triumph-in-eastern-conference-clash.jpg)
_household-debt-and-delinquency-reach-alarming-heights-as-rates-surge-in-q1.jpg)
_knicks-underdogs-in-pivotal-game-vs-pacers-tonight.jpg)
_moment-police-rescue-man-on-new-york-subway-tracks.jpg)
_carolina-favored-in-game-6-against-rangers-analysis.jpg)
_game-5-preview-rangers-vs-hurricanes-at-madison-square-garden.jpg)
![[+]](/images/menu.gif){kind=small}