Rising Credit Card Debt

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Replied by Finance Globe on topic Rising Credit Card Debt

It's difficult to understand why average credit card rates have been steadily rising over this 10 year low interest rate cycle. What happens to people with high credit card debt when rates rise?
https://www.financeglobe.com/credit-cards/rates/
https://wallethub.com/edu/cc/historical-credit-card-interest-rates/25577/
https://www.creditcards.com/credit-card-news/historic-credit-card-interest-rate-chart.php
2 weeks 4 days ago #1

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Replied by FrankN on topic Rising Credit Card Debt

From what I keep reading, this problem is only getting much much worse.
1 month 2 weeks ago #2

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Replied by FrankN on topic Rising Credit Card Debt

This is a great read on the situation, I would recommend reading it.

https://www.cnbc.com/2019/05/21/millennials-are-no-longer-good-at-staying-out-of-bad-credit-card-debt.html
2 months 4 weeks ago #3

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Replied by FrankN on topic Rising Credit Card Debt

This is very scary in my opinion by the way.
3 months 4 weeks ago #4

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Rising Credit Card Debt was created by FrankN

I read today that in Dec. '18, the U.S. consumer credit card debt hit over $870 billion, which is the highest total ever! Be careful out there, this growing economy won't last forever.
4 months 6 days ago #5

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