Americans are opening Credit card And provoking the large balance, pushing the country’s credit card debt to the new record.
High interest rates, stubborn Inflation And constant consumer expenses are in the cars that have lifted the credit card debt to the highest number of $ 1.21 trillion dollars for the highest number of $ 1.21 trillion New York Fed Report. It is from 9 986 billion on two years ago.
The latest data from the bank consumer credit panel opened new credit card cards and continued to add debt. However, it continued to connect.
In the fourth quarter of 2024, consumers added about 17 million credit cards, during the same time, increased larger than Rs 5 lakh during the same time a year ago.
Good news: Credit card balances in the 4002 billion quarter of the 400-round quarter will likely be based on seasonal post-harmed trends.
“In all, the consumers are in a very good shape as a landscape of domestic debt, in a large scale and solid performance,” New York’s Mandarians wrote in A Post Commenting on Quarter Data Release, which also checks Mortgages, Auto loan And other types of debt.
Nevertheless, Credit cards of cards are a matter of concern that will need to see ahead. In the fourth quarter, credit card shares of 9.35%, high level 11.35%, high levels of high levels.
However, a separate Kansas City report in December states that the recent credit card reports are not as worn as the trend of criminals from the recent credit card as they appear to be on the surface. Deleting the balance – loan consumers are actually a billing bicycle and more interest – still less than the 2019 levels. “Fixed Realtion Balance suggests that families are not running in the debt of additional credit card loans and thus reduce the balance,” Report Said. “
What to do if you are struggling to pay credit card
Are you in return to the credit card payments? There are direct strategies you can help you go back to track and Get out of debt.
First of all, find a great tool and try to re-help your costs. For current credit card balances, close search debt “Snowy” and “debt snow” methods “.
You can also see and consider the less or 0% api credit cards Balance Transfer Or Personal loans To avoid extreme credit card interest rates. Even if the Federal Reserve has cut the benchmark interest rate 1 according to the point of 1 per cent from September Average credit card Is still over 20%.
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