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Credit card defaults have risen to their highest rates since 2010, with TransUni…
Credit card defaults have reached their highest levels since 2010, with TransUnion reporting an average credit card debt of $6,300 per American. In the first nine months of 2024, lenders wrote off $46 billion in unpaid balances, a 50% increase from the previous year. The Federal Reserve noted credit card debt soared to a record $1.17 trillion, contributing to nearly $18 trillion in total household debt. Rising defaults are attributed to persistent inflation and high interest rates, with more than one-third of Americans accruing additional debt during the holiday season, averaging $1,181 in new charges.
Homeowner Memes
January 3, 2025 at 7:16 pm
If we work together we can push it even higher
Sai
January 3, 2025 at 7:16 pm
Recession 2025
izzy helsinki
January 3, 2025 at 7:16 pm
Rent up 500%, salaries down 30%
Chris
January 3, 2025 at 7:16 pm
Blindspot for the right: unregulated access to debt to fund consumerism and rampant capitalism can ruin people
Ground News
January 3, 2025 at 7:16 pm
#groundnews #newsbias #breakingnews #topnews #instanews #news #breaking #groundnewsapp #mediabias #media #visa #creditcards #Business #debt #unitedstates #Usnews
Gancigrano
January 3, 2025 at 7:16 pm
Capitalism is the best system, trust me bro
Anonymous
January 3, 2025 at 7:16 pm
they just wrote it off? lmao 😂
Atlas Pantera
January 3, 2025 at 7:16 pm
Don’t worry. The economy is doing great. Everything is fine. You’re NOT struggling. Remember to smile 😊
Drew Auker
January 3, 2025 at 7:16 pm
Yes, but pls lower interest rates; must borrow more 🤪
john a. v.
January 3, 2025 at 7:16 pm
That’s what happens when no one actually has wealth and is just kicking the can down the road with debt. Plenty more where this came from.
David Pimentel
January 3, 2025 at 7:16 pm
Capitalism the snake eating its own tail
Kai Lim
January 3, 2025 at 7:16 pm
So… which CEO is next
𝔞𝔡𝔯𝔦𝔢𝔫𝔫𝔢 🥀
January 3, 2025 at 7:16 pm
let’s aim for $30 trillion by the end of this year guys
Magnus Champlin
January 3, 2025 at 7:16 pm
It’s interesting what news sources shared that. I figured it would be even in this instance.
DoNotReviveMe
January 3, 2025 at 7:16 pm
Let’s not forget the government failing its own audit and having the audacity to send our taxes to fund a whole separate government and genocidal combat in a part of the world where they still live without power.