American credit card debt rose by 6% to $936.1 billion. That’s $10 billion more than in 2016. The current average household credit card balance in the US is $7,996. Interest rates have been rising and are adding to the accumulated debt. [Everyone knows that this cannot continue and cannot be fixed. The system is broken and, eventually, it must fall apart.] -GEG
Americans are racking up close to $1 trillion in credit card debt, according to a new study.
The study conducted by personal finance website WalletHub found that American credit card debt rose by 6 percent to $936.10 billion, up from $884.70 billion in 2016.
In the second quarter of 2017, U.S. consumers added $33 billion in debt with credit cards — the second-highest amount of debt since 2008.
WalletHub predicts that U.S. consumers will amass $60 million more in debt with credit cards by the end of 2017, pushing the total amount of credit card debt in America to $1 trillion.
The study notes that the average household credit card balance in the U.S. went up to $7,996 in 2017, up from $7,584 during the same period in 2016.
If the bought-and-paid-for reporters do as expected, they will have an opportunity for annual renewals. The Report For America’s advisory board is filled with mainstream news organizations like the New York Times, NPR, CBS, and ABC. […]
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