Historic credit card debt looms over Americans

As the pandemic continues to affect Americans’ financial stability, many are struggling with credit card debt. Inflation, rising interest rates, and the end of pandemic-related aid have all contributed to this issue. According to experts, Americans accumulated over $1.05 trillion on their credit cards in the third quarter of 2023, with the average interest rate at around 21.5 percent, the highest since the Federal Reserve began monitoring credit card rates in 1994. Additionally, recent data from Moody’s revealed that current credit card delinquencies far exceed 2019 levels.

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Financial stress is becoming increasingly common for Americans who had no savings before the pandemic. With inflation, rising interest rates and the end of pandemic-related aid leading to historic credit card debt levels.

According to experts, Americans accumulated over $1.05 trillion on their credit cards in the third quarter of 2023 with an average interest rate at around 21.5 percent – the highest since the Federal Reserve began monitoring credit card rates in 1994.

Additionally, recent data from Moody’s revealed that current credit card delinquencies far exceeded 2019 levels.

One article discusses trading affiliate marketing as a potential source of income for individuals while another delves into innovative solutions using Secure Spend in Korea.

Other articles cover a range of topics including certificate verification problems making phonk music online virtual courses video editing tools dedicated server hosting and even more.

Another article talks about firearm sales while another provides mastering tips for music production along with online voting processes for student unions.

The content features user comments such as one about search engine optimization services and another expressing frustration at not being able to view a specific page.

By Editor

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