_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 mudra bank online 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: 1.9M times
✓ Published: 17-May-2024
👁 View: 1.9M 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
_20-05-2024-7546.webp "BIKKINA NEWS")
_124spark-stories.webp "Spark Stories")
⏲ 25 minutes 53 seconds 👁 394K
_scottish-weather-visitors-take-to-the-water-at-luss-loch-lomond.webp "Scottish Weather - Visitors take to the water at Luss, Loch Lomond<br/><br/>LUSS. Loch Lomond.<br/><br/>Scotland's 23C weekend weather. People enjoy the hot weather as they gather at Luss on the banks of Loch Lomond.<br/><br/>The latest forecast for Scotland has predicted some toasty temperatures and sunshine as people are told to 'enjoy the sun' while it's still around.<br/><br/>BBC Weather presenter Judith Ralston has revealed the latest forecast this morning and has confirmed that most of Scotland will be bathed in toasty weather by early afternoon. The expert has said that areas like Fort William and Pitlochry will see highs of 23C today, with the central belt experiencing a scorching 22C by mid-afternoon.<br/><br/>The forecaster also noted that some showers may appear across the most northern parts of Scotland and the eastern areas of the country will experience milder weather compared to the rest of the nation.<br/><br/><br/><br/>")
_124-ap-pension-update-124-ap-pension-bank-account-status-124-viralvasu.webp "ViralVasu")
⏲ 3 minutes 4 seconds 👁 17.7K
_easy-ways-to-trick-yourself-into-saving-money.webp "Let’s face it, some of us are just not great at saving money! Luckily, experts say there are a few easy ways to trick yourself into good financial saving habits.")
_mudra-loan-course-in-telugu-how-to-get-mudra-loan-easily-124-mudra-loan-eligibility-amp-documents.webp "ffreedom App - Money (Telugu)")
⏲ 1 minute 31 seconds 👁 2.3M
_ippb-se-loan-kaise-le-124-india-post-payment-bank-se-loan-kaise-le-124-ippb-loan-kaise-le.webp "Real Gopal")
⏲ 5 minutes 59 seconds 👁 624
_sheffield-cafe-hell39s-kitchen-transformed-for-film.webp "Sheffield cafe Hell's Kitchen on East Bank Road transformed for a film, called Reunion, by the people who made This Is England")
_20-05-2024-7546.jpg)
_124spark-stories.jpg)
_scottish-weather-visitors-take-to-the-water-at-luss-loch-lomond.jpg)
_124-ap-pension-update-124-ap-pension-bank-account-status-124-viralvasu.jpg)
_easy-ways-to-trick-yourself-into-saving-money.jpg)
_mudra-loan-course-in-telugu-how-to-get-mudra-loan-easily-124-mudra-loan-eligibility-amp-documents.jpg)
_ippb-se-loan-kaise-le-124-india-post-payment-bank-se-loan-kaise-le-124-ippb-loan-kaise-le.jpg)
_sheffield-cafe-hell39s-kitchen-transformed-for-film.jpg)
![[+]](/images/menu.gif){kind=small}