- My Forums
- Tiger Rant
- LSU Recruiting
- SEC Rant
- Saints Talk
- Pelicans Talk
- More Sports Board
- Fantasy Sports
- Golf Board
- Soccer Board
- O-T Lounge
- Tech Board
- Home/Garden Board
- Outdoor Board
- Health/Fitness Board
- Movie/TV Board
- Book Board
- Music Board
- Political Talk
- Money Talk
- Fark Board
- Gaming Board
- Travel Board
- Food/Drink Board
- Ticket Exchange
- TD Help Board
Customize My Forums- View All Forums
- Show Left Links
- Topic Sort Options
- Trending Topics
- Recent Topics
- Active Topics
Started By
Message
A record 36% of U.S. adults now have more credit card debt than savings.
Posted on 2/28/23 at 3:50 pm
Posted on 2/28/23 at 3:50 pm
This is up from 27% in 2022 and 21% in 2021.
Credit card debt jumped $130 billion in 2022, the biggest increase in history, to $986 billion.
Credit card debt is up 15% over the last YEAR and 7% over the last QUARTER.
"High rates and inflation" are to blame, according to the New York Fed.
Worst part?
Rates are still rising and inflation just increased for the first time since October 2022.
According to Bankrate:
46% of credit cardholders carry debt from month to month, up from 39% last year.
The average interest rate on credit card debt is almost at 25%, a record high.
LINK
Credit card debt jumped $130 billion in 2022, the biggest increase in history, to $986 billion.
Credit card debt is up 15% over the last YEAR and 7% over the last QUARTER.
"High rates and inflation" are to blame, according to the New York Fed.
Worst part?
Rates are still rising and inflation just increased for the first time since October 2022.
According to Bankrate:
46% of credit cardholders carry debt from month to month, up from 39% last year.
The average interest rate on credit card debt is almost at 25%, a record high.
LINK
43
Posted on 2/28/23 at 3:51 pm to stout
Those points tho
Posted on 2/28/23 at 3:52 pm to stout
They forgave student debt. What keeps them from pandering to the lowest common denominator again to forgive other sources of debt.
Posted on 2/28/23 at 3:52 pm to stout
Takes a lot of discipline, but I am proud to report I am not in the statistic. Hasn't always been that way. From 20-30 I was fairly reckless with spending. Nowadays, I carry zero debt aside from mortgage. Financial freedom is freedom in its purest form.
Posted on 2/28/23 at 3:53 pm to stout
Some democrat somewhere is scheming how to run on credit card balance forgiveness
Posted on 2/28/23 at 3:56 pm to stout
if i ever feel like im behind where i should be financially, i just remember that i have no credit card or student loan debt and only owe 5k on an auto loan. i'm basically a billionaire.
Posted on 2/28/23 at 3:57 pm to TulaneUVA
quote:they tried
They forgave student debt.
Posted on 2/28/23 at 3:59 pm to stout
that seems low to me tbh.
Posted on 2/28/23 at 4:01 pm to stout
That is wild to me. People have to learn to spend within their means.
Posted on 2/28/23 at 4:02 pm to stout
Damn. How the hell
Posted on 2/28/23 at 4:03 pm to stout
quote:
Rates are still rising and inflation just increased for the first time since October 2022.
I like how they word this to make it sound like it was so long ago. So, the first time in 3-4 months (not sure if based on Jan or Feb #s)
Posted on 2/28/23 at 4:04 pm to stout
Never in my life have I carried a balance. Blows my mind that people think this is normal outside of emergencies that come up
Posted on 2/28/23 at 4:04 pm to stout
lol i bet the number is way higher than that.
Posted on 2/28/23 at 4:05 pm to stout
I’ll never understand people that carry credit card debt at 25% outside of some extreme sudden emergency.
Posted on 2/28/23 at 4:05 pm to TulaneUVA
quote:No, they didn’t.
They forgave student debt
Posted on 2/28/23 at 4:07 pm to stout
Happily, I’m not one of them. I don’t have a penny of cc debt and I’m thankful for it.
Posted on 2/28/23 at 4:08 pm to TulaneUVA
quote:
They forgave student debt.
Wrong
Posted on 2/28/23 at 4:10 pm to stout
Need more government cheese stat!
Posted on 2/28/23 at 4:11 pm to Tshiz
quote:
Those points tho
Yep. I love playing the points and miles game
Posted on 2/28/23 at 4:11 pm to geauxbrown
I put all of my monthly expenses on 2 different credit cards.
I really have no clue where my debit/ATM card even is.
I really have no clue where my debit/ATM card even is.
Page 1 of 5
Popular
Back to top
Follow TigerDroppings for LSU Football News