Rising Credit Card Debt

  • FrankN
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Replied by FrankN on topic Rising Credit Card Debt

I continue to monitor this and it is really becoming a major problem. I could see a recession in 6 months.
1 year 1 month ago #1
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Replied by FrankN on topic Rising Credit Card Debt

I dont either,, but it has been so long since a downturn, I am worried it could be just as bad!
1 year 2 months ago #2
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Replied by Wanderer on topic Rising Credit Card Debt

Not pleased that we are seeing the credit card debt soaring at the rate it is! Sure don't want another 2008 meltdown!
1 year 2 months ago #3
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Replied by FrankN on topic Rising Credit Card Debt

I think it is going to be a very big problem!!!
1 year 2 months ago #4
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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
1 year 3 months ago #5
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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 year 4 months ago #6
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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
1 year 5 months ago #7
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Replied by FrankN on topic Rising Credit Card Debt

This is very scary in my opinion by the way.
1 year 7 months ago #8
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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.
1 year 7 months ago #9