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American households now have an average of $10,170 credit card debt, as record numbers say they are worried about being cut off from access to loans. Data from the New York Federal Reserve shows nationwide credit card debt swelled by $43 billion in the second quarter of the year - the second largest increase on record. *** But some states are faring much worse than others as households in Hawaii have the highest debt currently, according to fresh analysis by WalletHub. Families in the Aloha state have $10,637 in credit card loans on average. It was followed by Alaska, California...

The first-quarter dip never happened. Some observers say that’s a problem. Credit-card balances hit $986 billion in the fourth quarter, but remain largely unchanged in the first quarter of the year, the Federal Reserve Bank of New York said in its most recent quarterly report on household debt. It looks increasingly likely that credit-card debt is on track to hit the $1 trillion mark this year, and experts say that this number could be an indicator of a looming economic downturn.

BREAKING: A record 36% of U.S. adults now have more credit card debt than savings. 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. We are "fighting" inflation with credit card debt. 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. How can this end...

Americans are feeling the pinch of inflation. Wages are up but consumers are worse off. Average hourly earnings have risen by 5.5% over the last year. But factoring in rising costs, real earnings are down 2.6%. So, how are Americans making ends meet? They’re charging it. Consumer debt continues to climb at a staggering rate. Total consumer debt rose by $52.4 billion in March, a 14% increase according to the latest data released by the Federal Reserve. Outstanding consumer debt now stands at $4.54 trillion. The Federal Reserve consumer debt figures include credit card debt, student loans and auto loans,...

can anybody help a complete fool out? I found out i am in credit card debt for $45,000

Or did someone throw the Washington Post a curveball? The White House released Brett Kavanaugh’s financial records yesterday as part of their disclosures for his eventual confirmation hearing, and the Post may have thought they’d found a diamond in the rough. Kavanaugh ran up some substantial credit-card debt, a potential hanging slider over the partisan plate. That is, until they found out what the charges were.Can we call this a swing and a miss? Supreme Court nominee Brett M. Kavanaugh incurred tens of thousands of dollars of credit card debt buying baseball tickets over the past decade and at...

Total U.S. credit card debt has topped $1 trillion for the first time, according to a new report from the card comparison site WalletHub. Consumers added $92 billion in credit card debt in 2017, bringing the aggregate over $1 trillion. Other categories over the trillion-dollar threshold are housing, auto loan, and student loan debt. [SNIP] The average household owes a record $8,600, which is more than the peak during the recession.

Americans are starting to pile up more credit card debt than ever before. According to a new study released Monday, U.S. consumers added $33 billion in credit card debt during the second quarter of 2017, making it the second-highest point of debt since the end of 2008.

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Today’s Wall Street Journal report on record levels of credit-card and auto-loan debt sound like a stroll down Memory Lane: U.S. credit-card balances are on track to hit $1 trillion this year, as banks aggressively push their plastic and consumers grow more comfortable carrying debt. That sum would come close to the all-time peak of $1.02 trillion set in July 2008, just before the financial crisis intensified, and could signal an easing of frugal habits ingrained by the recession. The boom has been driven by steady economic conditions and an improving job market that have made creditworthy consumers less reluctant...

For the first time ever, total credit card debt in the United States is approaching a trillion dollars. Instead of learning painful lessons from the last recession, Americans continue to make the same horrendous financial mistakes over and over again. In fact, U.S. consumers accumulated more new credit card debt during the 4th quarter of 2015 than they did during the years of 2009, 2010 and 2011 combined. That is absolutely insanity, because other than payday loans, credit card debt is just about the worst kind of debt that consumers could possibly go into. Extremely high rates of interest, combined...

Jonathan GarberSeptember 9, 2015CardHub, a financial website that monitors credit card debt, says credit card debt levels in the US are on pace to increase by another $60 billion by the end of 2015. According to CardHub, such an increase would bring total US credit card debt to just shy of $900 billion, which is the level that at which it becomes unsustainable. CardHub told Financial Advisor, "We erased almost all of our first-quarter pay down, racking up a whopping $32.1 billion in new balances from April through June, the largest second quarter binge since we began conducting the Credit...

WASHINGTON — Jobs growth has been solid of late, and manufacturing sentiment has been strong. But the lack of wage growth has been apparent, and one manifestation of that has been the paltry rise in credit-card debt. The latest data on consumer credit is due out Thursday. It’s likely to show non-revolving debt like auto and student debt is continuing to grow rapidly. But credit-card debt has barely budged. “Incomes are only growing so much,” said Josh Shapiro, chief economist at MFR. “[Consumers] are not going to go two-fisted on credit-card and auto debt.”

Americans live in a consumer culture. We like to buy things. When we can’t afford to purchase something we really want, we turn to credit cards and loans, even though we end up paying more due to interest payments. Over half the population paid interest on credit cards in the past year. “Buy now – pay later”. This mindset has resulted in the plague of personal debt many families struggling with. Unfortunately the “buy now – pay later” mentality is not limited to the individual consumer, Americans are also inclined to incur debt to fund government projects we can’t afford....

<p>More American households are falling back into the debt hole, this time without the safety net of home values to help bail them out, the New York Post reported Sunday.</p> <p>Last year, total US consumer debt reached its highest point in a decade, according to a credit card industry observer.</p>

The current methodology is simple: it takes money out of our pockets (and our employers) puts it though governmental blenders, and spits out a meager benefit at retirement. Why not let the private sector provide pension benefits to all employees under the direction of a trimmed down Social Security bureaucracy?

Your Monthly Credit Card Minimum Payments May Double The Good News and the Bad If, like many Americans, you've been incurring credit card debt based on being able to afford the monthly minimum payment rather than whether your income and expenses can support the purchase of a particular item, you may be in trouble. For years, low monthly minimum credit card payments have encouraged us to spend more than we really can afford. Now it's time to pay the piper. Under pressure from the Office of the Comptroller of the Currency (which regulates national banks), the Federal Reserve, the Federal...

More than 40 members of the House reported carrying at least $10,000 in credit-card or charge-card debt in 2003 and parts of 2004, according to a survey of financial disclosure reports conducted by The Hill. The findings come as the House is poised to take up a bankruptcy-reform measure that would give banks and credit card companies expanded powers to seek repayment from debtors who file bankruptcy. Opponents of the bill drew hope from the data, suggesting that lawmakers who nurse high-interest debt might be more likely to sympathize with indebted consumers. High credit-card debt is often a factor in...

If you pay your bills on time and generally pay off your credit card balance each month, credit card companies aren't really interested in you. The money is made by charging an interest rate that can capriciously hop up and down, slamming you with outrageous late fees and making sure you never want to pay more than the minimum payment. "I don't know any merchant in America who can change the price after you've bought the item, except the credit card industry," says Harvard law professor Elizabeth Warren in the film. "These guys have figured out the best way  ...

Dear Freepers:I am in serious financial trouble. I need some advice. I do NOT want to file for bankruptcy.