$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 the U.S. is becoming increasingly concerning, with a record $1.08 trillion in balances as reported …

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 to increased spending on travel and services amid inflation. Q3 saw credit card balances rise …

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 to credit cards to make ends meet. At the same time, credit cards are one …