Household credit card debt in the U.S. reaches record $1.14 trillion. 57% of Americans depend on credit cards to make ends meet
https://i.redd.it/i063feoui7hd1.jpeg
by wakeup2019
Household credit card debt in the U.S. reaches record $1.14 trillion. 57% of Americans depend on credit cards to make ends meet
https://i.redd.it/i063feoui7hd1.jpeg
by wakeup2019
3 comments
Music to VISA/Mastercard ears. News Flash – Credit Card Debt is the worst kind of debt ever.
Having large credit card debt because you still owe $56,000 on your F250 Super Duty and $4000 on its $8000 lift kit is a choice “not a make ends meet” decision. The top 3 selling vehicles in America….Ford F Series, Chevy Silverado, Dodge Ram…….just stop with the doomsday already.
Americans used those stimulus checks to pay down their debt across the board, it’s funny that you see it in this chart as well. If you look at a 10-year chart this is roughly on trend, and credit card debt is dwarfed by student loan debt (1.65x) and mortgage debt (8.5x).
Not trying to say anything controversial, just that consumer debt as a portion of GDP is roughly unchanged so this is all structural increases. If any part is too high it’s not suddenly too high, it’s been too high for 1-2 decades.