Credit Card Delinquencies Skyrocket As Consumers Feel A Financial Strain
Credit card delinquencies have surged as consumers face increasing financial pressure. The total credit card debt has reached $1.25 trillion, growing at a rate of 10.2% annually. This trend highlights the growing strain on household finances amidst rising costs.
- ▪Credit card debt has surged to $1.25 trillion.
- ▪The annual growth rate of credit card debt is 10.2%, which is double the rate of other consumer loans.
- ▪Consumers are experiencing heightened financial strain, leading to increased delinquencies.
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