$1.08 Archives - Citizen Watch Report

Credit Card and Auto Loan Defaults Hit 2008 Levels as Credit Card Debt Soars to Record $1.08 Trillion, Signaling An Imminent Financial Crisis

January 15, 2024 6:39 am

Subprime Auto-Loan Delinquencies Rise to 2019 Levels: a Dive into Subprime Lending and Securitizations pic.twitter.com/A5gyIrxj3e — QUACK (@RichQuack) January 14, 2024 Credit Card Debt Climbs: 56 Million Americans in Prolonged Debt Amid Economic Pressures The credit card debt situation in …

Credit Card Balances Mask True Borrowing – Surge in Spending Reflects in $1.08 Trillion Balances

November 9, 2023 4:22 pm

Credit card balances often misrepresent borrowing as they mainly indicate spending. Despite being a primary consumer payment method in the US, many pay off their full balances monthly. In 2022, credit card transactions reached $5.8 trillion, up 18% YoY due …

Credit card debt in the US has hit an all-time high of $1.08 Trillion (The average interest rate on credit cards is now over 20%, also an all-time high) [Balances have increased $154 Billion year over year, the largest increase since 1999]; U.S. Household debt reaches $17.29 Trillion

November 8, 2023 7:35 amNovember 8, 2023 7:00 am

Another record credit card debt Collectively, Americans now owe $1.08 trillion on their credit cards, according to a report from the Federal Reserve Bank of New York. Steadily, persistently higher prices have caused consumers to spend down their savings and increasingly turn …