Americans' credit card debt hits a record $1 trillion | CNN Business
www.cnn.com
Americans’ credit card debt levels have just notched a new, but undesirable, milestone: For the first time ever, they’ve surpassed $1 trillion, according to data released Tuesday by the Federal Reserve Bank of New York.

Americans’ credit card debt levels have just notched a new, but undesirable, milestone: For the first time ever, they’ve surpassed $1 trillion, according to data released Tuesday by the Federal Reserve Bank of New York.

  • dangblingus@lemmy.world
    20·
    2 years ago

    America has never had a larger population. More people, more credit cards, more credit card debt. Seeing a per capita breakdown, or defaults per 1000 people might be better indicator of economic turmoil.

    • OhmsLawn@lemmy.world
      1·
      2 years ago

      Or maybe interest paid. I sometimes have a higher balance for the month, but I always pay it off entirely. Nonetheless, my credit score fluctuates based on the balance at the time of reporting.

      • guyrocket@kbin.social
        1·
        2 years ago

        I’ve noticed that too. It should not count as a balance if you pay in full every month. I assume this is counted towards this trillion dollar amount too which it should not.