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US credit card debt hit a record $870 billion in 2018
Posted on 3/5/19 at 7:34 pm
Posted on 3/5/19 at 7:34 pm
quote:
U.S. credit card debt hit $870 billion -- the largest amount ever -- as of December 2018, according to the data from the Federal Reserve. Credit card balances rose by $26 billion from the prior quarter. "The increase in credit card balances is consistent with seasonal patterns but marks the first time credit card balances re-touched the 2008 nominal peak," according to the report.
Nearly 480 million credit cards are now in circulation -- up by more than 100 million since hitting bottom after the recession a decade ago. At the end of last year, credit cards were the fourth-largest portion of consumer debt in the U.S. after mortgage, student loan and auto debt.
LINK
This post was edited on 3/5/19 at 7:35 pm
34
Posted on 3/5/19 at 7:35 pm to weagle99
quote:
credit card debt
Posted on 3/5/19 at 7:36 pm to weagle99
Pay mine off every month 
Posted on 3/5/19 at 7:37 pm to weagle99
Well it was Christmas...
Posted on 3/5/19 at 7:38 pm to weagle99
But those points!
Posted on 3/5/19 at 7:38 pm to weagle99
I’m really hoping it’s all forgiven one day. Mine are all maxed and I get every new one I can.
Posted on 3/5/19 at 7:39 pm to weagle99
Not surprised
Posted on 3/5/19 at 7:41 pm to weagle99
Does it factor people who pay everything on CC and pay it off each month to get points? If so that’s pretty misleading. Everyone I know nowadays is doing this, it’s stupid not to.
Posted on 3/5/19 at 7:43 pm to weagle99
How do you not pay off your credit card debit every month? Am I a weirdo for using my card like it’s a debit card and pay off the bill in entirety every month?
ETA:
Should have read the thread. Glad I’m not some outlier
ETA:
Should have read the thread. Glad I’m not some outlier
This post was edited on 3/5/19 at 7:44 pm
Posted on 3/5/19 at 7:45 pm to weagle99
quote:
fourth-largest portion of consumer debt in the U.S. after mortgage, student loan
Id love to see the numbers on households under 35 that don't have CC or student loan debt. I bet it would be staggering.
Posted on 3/5/19 at 7:48 pm to weagle99
quote:
US credit card debt hit a record $870 billion in 2018
gotta have those latest cell phones, TVs, restaurant food, high dollar sunglasses, etc
Posted on 3/5/19 at 7:50 pm to weagle99
I’m surprised it’s that Low.
Posted on 3/5/19 at 7:51 pm to weagle99
Thanks for the reminder. My $25 minimum payment is due tomorrow. I’m so glad I financed my car for 9 years so I could make these credit card payments.
Posted on 3/5/19 at 7:52 pm to weagle99
Wait, we got to pay those plastic things off?
Posted on 3/5/19 at 8:07 pm to weagle99
Sorry for partying.
Posted on 3/5/19 at 8:10 pm to weagle99
With all the stores pushing 12+ months and zero interest when you use a store card, this doesn’t surprise me at all.
Posted on 3/5/19 at 8:11 pm to weagle99
Not me.
Posted on 3/5/19 at 9:04 pm to weagle99
quote:
US credit card debt hit a record $870 billion in 2018
Not a penny of it is mine.
Posted on 3/5/19 at 9:08 pm to weagle99
Not me.
If folks ever give up the addiction of credit, their lives become much better and simpler.
If folks ever give up the addiction of credit, their lives become much better and simpler.
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