Millennial credit card delinquency is on the rise, while spending has hit a record low.

by
Sharing is Caring!

Credit card spending has taken a nosedive, officially entering contraction territory, despite a reported 35% surge in retail sales above pre-pandemic levels. The discrepancy between retail sales growth and the significant decline in credit card transactions reveals a stark contrast in consumer behavior.

Amidst a backdrop of soaring prices, with a 20% increase since before the pandemic, consumers are tightening their belts when it comes to credit card usage. This financial restraint is particularly evident among millennials, where credit card delinquency now surpasses pre-pandemic levels, as reported by the Federal Reserve.

See also  Job market imploding?! The Fed is going to cut rates again next week while food price inflation rises and stock valuations remain at extreme levels. Gold is about to start making headlines again!


See also  Bitcoin pumpers exploit financial struggles, promising escape while sustaining a Ponzi-like cycle.

106 views