_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 2018 gama report 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
_one-in-eight-europeans-now-lives-in-an-area-at-risk-of-extreme-flooding-says-new-report.webp "Many European hospitals were also found to be on flood plains.")
⏲ 2:12 👁 7.2M
_ipl-playoffs-playoff-ipl-reserve-day-124.webp "IPL 2024 के Playoffs मुकाबलों में Weather update क्या रहेगा, IPL Playoffs में बारिश होती है तो क्याReserve Day होंगे या नहीं जाने क्या है IPL PlayoffsReserve Day Rule... <br/> <br/>#ipl #ipl2024 #iplplayoffs #srhvskkr #rcbvsrr #iplplayoffsreserveday #reserveday #weatherupdate #iplplayoffsweather #playoffs #ipl2024playoffs #rcb #viratkohli #playoffsweather #rr #srh #kkr #patcummins<br/> <br/>IPL, IPL 2024, IPL Playoffs, IPL Playoffs Weather update, IPL Playoff Weather, Playoffs, Weather Report, RR vs RCB, Reserve Day in playoffs, Reserve Day in finals, Reserve Day, KKR vs SRH, RCB in Playoffs, RCB vs CSK, Virat Kohli in playoffs, KKR, SRH, RR, RCB, IPL 2024 Playoffs, IPL final, Playoffs Weather, IPL playoffs Weather Report, Oneindia Hindi, Oneindia Hindi News, वनइंडिया हिंदी, वनइंडिया हिंदी न्यूज<br/>~HT.318~GR.124~ED.106~")
IPL Playoffs: Playoff में बारिश बिगाड़ेगी खेल!, क्या कहता है IPL Reserve Day का नियम |वनइंडिया हिंदी
⏲ 4:8 👁 140K
_hsbc-shares-drop-3-in-hong-kong-amid-reports-of-ping-an-insurance-considering-stake-reduction.webp "Shares of HSBC fell over 3% in Hong Kong after reports that its top shareholder, Ping An Insurance, may look to reduce its stake in the bank. Citing unnamed sources, Bloomberg reported Ping An is considering options to trim its $13.3 billion position in HSBC, including further share sales. Last week, Ping An disclosed the sale of HSBC shares, reducing its stake slightly from just over 8% to about 7.9%. Ping An was previously at odds with HSBC management, supporting a 2023 shareholder motion to spin off Asia operations.")
⏲ 0:39 👁 615K
_sixth-fatality-reported-in-new-caledonia-violence.webp "French security forces reported another death in armed clashes in the French Pacific territory of New Caledonia on Saturday, the sixth fatality in nearly a week of violent unrest.")
_alibaba39s-earnings-report-triggers-5-stock-drop-as-net-income-plunges-86-yoy.webp "Alibaba's fourth-quarter revenue beat estimates, but net income plunged 86% year-over-year. Alibaba shares dropped around 5% in premarket trading following the earnings release. The company's core e-commerce business recovered, with revenue up 4% and customer management revenue up 5%. Alibaba focuses on reducing low-margin contracts and growing AI-related products in its cloud division. The company's AI revenue experienced \")
_stocks-surge-on-hopes-of-fed-rate-cuts-as-investors-watch-upcoming-earnings-for-nvidia.webp "Stocks reached record highs this week due to an optimistic outlook on potential interest rate cuts by the Federal Reserve. Upcoming earnings reports from companies like Nvidia, Target, Palo Alto Networks, and Lowe's will be monitored closely. Economic news this week includes updates on manufacturing and services sectors, consumer sentiment, and the release of May FOMC meeting minutes. Nvidia's impressive earnings report in May 2023 has boosted the AI industry and impacted the overall market. Nvidia's stock has surged over 86% in 2024 and more than 200% in the past year since its groundbreaking earnings report in May 2023 sparked widespread enthusiasm for AI.")
_the-report-official-trailer.webp "The Report (2019)<br/>https://www.filmaffinity.com/es/film586794.html")
_sir-brian-langstaff-applauded-after-delivering-infected-blood-report.webp "Sir Brian Langstaff Applauded After Delivering Infected Blood Report")
_one-in-eight-europeans-now-lives-in-an-area-at-risk-of-extreme-flooding-says-new-report.jpg)
_ipl-playoffs-playoff-ipl-reserve-day-124.jpg)
_hsbc-shares-drop-3-in-hong-kong-amid-reports-of-ping-an-insurance-considering-stake-reduction.jpg)
_sixth-fatality-reported-in-new-caledonia-violence.jpg)
_alibaba39s-earnings-report-triggers-5-stock-drop-as-net-income-plunges-86-yoy.jpg)
_stocks-surge-on-hopes-of-fed-rate-cuts-as-investors-watch-upcoming-earnings-for-nvidia.jpg)
_the-report-official-trailer.jpg)
_sir-brian-langstaff-applauded-after-delivering-infected-blood-report.jpg)
![[+]](/images/menu.gif){kind=small}