I’m not saying it’s good or bad -who knows, it could be a “high class problem” or “transitory” as was said about inflation by qualified, non-populist, know-lot officials.
I guess its good for banks - they collect higher interest rates and more late fees and who knows, maybe it’s just people in prosperity shrewdly racking up points toward travel. Either way - status of consumer debt is an integral part of economics. It could be a positive in that people feel their job and income will be ok - so they can spend. Or maybe, it could be a sign that the S&P 500 economy - could be a bit different from the economy that many regular Americans participate in.
“Credit-card debt is soaring”
“Driving the news: Credit-card balances are defying the gravitational pull of stubborn inflation and slower growth. They account for about $890 billion of Americans’ staggering $16 trillion in household debt.”