Credit card balances jumped in the second quarter and are above $1 trillion for the first time. “The Fed’s measure of credit card debt 30 or more days late rose to 7.2% in the second quarter, the highest rate since the first quarter of 2012.”
Credit-card balances surpassed $1 trillion for the first time last quarter, even as interest rates for credit cards reached a record high of 22.2% in May. https://t.co/SUxVGQDL2X pic.twitter.com/dlon2yEZfG
— Lisa Abramowicz (@lisaabramowicz1) August 9, 2023