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| American Credit Card Debt Soars Past $1 Trillion for First Time in History (Page 1/1) |
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82-T/A [At Work]
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AUG 09, 08:01 AM
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New York Post: The credit card debt held by US shoppers surpassed more than $1 trillion for the first time ever as high inflation continues to drive up costs, according to a report published on Tuesday by the New York Federal Reserve. Credit card balances grew by $45 billion in the second quarter of this year — rising from $986 billion at the end of the first quarter to $1.03 trillion by the end of the most recent three-month period (New York Post).
CNN: Earlier Tuesday, Bank of America reported that more people were tapping their 401(k) accounts because of financial distress. The number of people who made a hardship withdrawal during the second quarter surged from the first three months of the year to 15,950, an increase of 36% from the second quarter of 2022 (CNN).
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olejoedad
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AUG 09, 08:52 AM
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People need to live within their means.
'Neither a lender or a borrower be'
No debt, no credit cards.
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Wichita
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AUG 09, 10:22 AM
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