Keep rolling up that debt

[Divitias]

The personal finance firm found that 49% of credit card users carry a balance from one month to the next. That’s up a full 10 percentage points from 2021. Of those who revolve their balances, 58% — 56 million people — have been in debt for at least one year, according to Bankrate.

56 million credit cardholders have been in debt for at least a year, survey...

[Hawkwin]

https://fredblog.stlouisfed.org/2023/12/three-measures-of-us-credit-card-debt/?utm_source=series_page&utm_medium=related_content&utm_term=related_resources&utm_campaign=fredblog

Not nearly as bad when one factors in inflation.

Delinquency Rate on Credit Card Loans, All Commercial Banks

Delinquencies are climbing, but still well below the 30 year average.

[captainccs]

@Hawkwin

Not nearly as bad when one factors in inflation.

Considering the rates banks charge it’s economic suicide to be used only in extreme situations and only for as short a time as possible.

The Captain

[Hawkwin]

@captainccs

Considering the rates banks charge it’s economic suicide to be used only in extreme situations and only for as short a time as possible.

OK. I don’t disagree with you but it was only slightly less suicidal a few years ago when the Prime rate was 5.5% (and the APR would have been 19.24%) in 2018 vs the 8.50% rate it is today.

Doesn’t really relate to my prior comment.