_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 home bank and trust 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: 1.8M times
✓ Published: 17-May-2024
👁 View: 1.8M 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
Related Videos
_brown-action-needed-now-for-millions-of-children-in-poverty.webp "The former Prime Minister Gordon Brown says millions of British children have only known life in poverty - and he's called for a Government rescue plan to help them. Brown has warned that food banks are increasingly taking over from the welfare state and called for urgent action by the current government. Report by Covellm. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn")
_how-to-put-real-estate-and-bank-accounts-in-a-living-trust.webp "CunninghamLegal")
_the-money-system-that-made-me-millions-4-homes-of-money.webp "7 Figure Squad")
_the-bank-of-england-holds-interest-rates-what-it-means-for-savers-and-borrowers.webp "Financial expert Robyn Denning fro Raisin UK discusses the latest interest rate decision by then central bank.")
_the-beautiful-home-of-hon-peter-salasyamumias-east-mp.webp "KTN HOME")
_atm-robbery-in-mayaro.webp "Police are investigating a million-dollar heist at a bank Automated Teller Machine, in southeast Trinidad.<br/><br/>According to reports, it happened sometime between Thursday night and Friday morning.")
_best-high-interest-savings-accounts-in-canada-2024-interest-rates-are-up.webp "Steph u0026 Den")
⏲ 20 minutes 1 second 👁 15.7K
_can-online-only-banks-be-trusted.webp "The Ramsey Show Highlights")
_brown-action-needed-now-for-millions-of-children-in-poverty.jpg)
_how-to-put-real-estate-and-bank-accounts-in-a-living-trust.jpg)
_the-money-system-that-made-me-millions-4-homes-of-money.jpg)
_the-bank-of-england-holds-interest-rates-what-it-means-for-savers-and-borrowers.jpg)
_the-beautiful-home-of-hon-peter-salasyamumias-east-mp.jpg)
_atm-robbery-in-mayaro.jpg)
_best-high-interest-savings-accounts-in-canada-2024-interest-rates-are-up.jpg)
_can-online-only-banks-be-trusted.jpg)
![[+]](/images/menu.gif){kind=small}