_american-credit-card-debt-surpasses-361-trillion-as-young-adults-struggle-to-cover-costs-of-housing-student-loans.jpg "American Credit Card Debt Surpasses $1 Trillion, as Young Adults Struggle to Cover Costs of Housing, Student Loans from finix payment Video Screenshot Preview")
GalleryPlay Video:
(Note: The default playback of the video is HD VERSION. If your browser is buffering the video slowly, please play the REGULAR MP4 VERSION or Open The Video below for better experience. Thank you!)
⏲ Duration: 0:40
👁 View: 1.9M times
✓ Published: 17-May-2024
👁 View: 1.9M times
✓ Published: 17-May-2024
Description:
Americans owe over $1 trillion collectively in credit card debt, the Federal Reserve Bank of New York reported Tuesday. The average credit card balance per consumer exceeds $6,000, up 8.5% from the previous year. More borrowers are falling behind on credit card payments, with less than 9% of balances transitioning to delinquency. Serious delinquencies past 90 days reached their highest level since 2010. Younger adults have taken on more debt to cover the rising rent costs, student loans, and auto loans. Credit cards charging an average of 20% interest are typically the most expensive debt.
Americans owe over $1 trillion collectively in credit card debt, the Federal Reserve Bank of New York reported Tuesday. The average credit card balance per consumer exceeds $6,000, up 8.5% from the previous year. More borrowers are falling behind on credit card payments, with less than 9% of balances transitioning to delinquency. Serious delinquencies past 90 days reached their highest level since 2010. Younger adults have taken on more debt to cover the rising rent costs, student loans, and auto loans. Credit cards charging an average of 20% interest are typically the most expensive debt.
Share with your friends:
Whatsapp | Viber | Telegram | Line | SMS
Email | Twitter | Reddit | Tumblr | Pinterest
Related Videos
_government-sets-out-infected-blood-compensation-scheme.webp "The first victims of the infected blood scandal will receive their final compensation payment before the end of the year, minister John Glen has said. In a statement delivered to the House of Commons, Mr Glen said the payments would be exempt from income, capital gains, and inheritance tax. <br/> Report by Kennedyl. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn")
_finix-payment-management-dashboard-124-finix-payments-inc.webp "UX Design Awards")
_how-online-payments-actually-work-amp-how-to-win-as-a-fintech-124-richie-serna-finix.webp "The Startupeable Show")
⏲ 1 hour 14 minutes 51 seconds 👁 35
_finix-124-save-up-to-40-on-payment-processing.webp "Finix")
_ux-design-award-124-product-2024-finix-payment-management-dashboard-by-finix-payments-inc.webp "UX Design Awards")
⏲ 1 minute 30 seconds 👁 51
_this-important-evidence-could-determine-donald-trump39s-fate-in-his-hush-money-trial.webp "A critical bank statement could determine the outcome of Donald Trump's hush-money trial. Michael Cohen's testimony and a crucial document take center stage in the legal battle over a 2016 payment.")
_finix-review-pros-and-cons.webp "FULL FINANCE REVIEW")
_government-sets-out-infected-blood-compensation-scheme.jpg)
_finix-payment-management-dashboard-124-finix-payments-inc.jpg)
_how-online-payments-actually-work-amp-how-to-win-as-a-fintech-124-richie-serna-finix.jpg)
_finix-124-save-up-to-40-on-payment-processing.jpg)
_ux-design-award-124-product-2024-finix-payment-management-dashboard-by-finix-payments-inc.jpg)
_this-important-evidence-could-determine-donald-trump39s-fate-in-his-hush-money-trial.jpg)
_finix-review-pros-and-cons.jpg)
![[+]](/images/menu.gif){kind=small}