_american-credit-card-debt-surpasses-361-trillion-as-young-adults-struggle-to-cover-costs-of-housing-student-loans.jpg "American Credit Card Debt Surpasses $1 Trillion, as Young Adults Struggle to Cover Costs of Housing, Student Loans from edd debit card home page bank of america Video Screenshot Preview")
GalleryPlay Video:
(Note: The default playback of the video is HD VERSION. If your browser is buffering the video slowly, please play the REGULAR MP4 VERSION or Open The Video below for better experience. Thank you!)
⏲ Duration: 0:40
👁 View: 1.9M times
✓ Published: 17-May-2024
👁 View: 1.9M times
✓ Published: 17-May-2024
Description:
Americans owe over $1 trillion collectively in credit card debt, the Federal Reserve Bank of New York reported Tuesday. The average credit card balance per consumer exceeds $6,000, up 8.5% from the previous year. More borrowers are falling behind on credit card payments, with less than 9% of balances transitioning to delinquency. Serious delinquencies past 90 days reached their highest level since 2010. Younger adults have taken on more debt to cover the rising rent costs, student loans, and auto loans. Credit cards charging an average of 20% interest are typically the most expensive debt.
Americans owe over $1 trillion collectively in credit card debt, the Federal Reserve Bank of New York reported Tuesday. The average credit card balance per consumer exceeds $6,000, up 8.5% from the previous year. More borrowers are falling behind on credit card payments, with less than 9% of balances transitioning to delinquency. Serious delinquencies past 90 days reached their highest level since 2010. Younger adults have taken on more debt to cover the rising rent costs, student loans, and auto loans. Credit cards charging an average of 20% interest are typically the most expensive debt.
Share with your friends:
Whatsapp | Viber | Telegram | Line | SMS
Email | Twitter | Reddit | Tumblr | Pinterest
Related Videos
_edd-card-information.webp "Succulent Queen")
_frozen-edd-debit-cards-or-missing-funds-what-to-do-who-to-call.webp "ABC10")
_things-golfers-forget-to-do-before-a-competition.webp "In this video, we're joined by Golf Monthly Top 50 Coach Alex Elliott to talk you through some vital things to remember before playing a competition round of golf. From your practice routine to your nutrition, these tips should allow you to play your best golf next time you've got a card in your pocket.")
_apply-for-unemployment-benefits-with-ui-online.webp "CaliforniaEDD")
_currency-code-caused-card-duplication.webp "In October of 2023, thousands of debit and credit card users across the country experienced duplication in their payments that were made between the months of August and September of that year.<br/><br/><br/>At a Joint Select Committee on Finance and Legal Affairs held on Friday, TV6 News posed the question to the Bankers Association of T&T, as to exactly what caused the problem and what measures have been implemented to prevent it from reoccurring.<br/><br/>")
_do-you-have-the-right-debit-card-5-best-debit-cards-no-fees-high-apy-and-perks.webp "Venture with Jazzy")
⏲ 10 minutes 27 seconds 👁 5.9K
_testing-and-unboxing-acorns-debit-might-oak-card.webp "Brendan Evan")
_gen-z-has-a-credit-card-problem.webp "TheStreet’s Conway Gittens brings you the biggest news of the day, including what investors are watching and why Gen Z has a credit card problem.")
Related Video Searches
Back to Search
Search Videos
Recent Searches
×
(Note: The default playback of the video is HD VERSION. If your browser is buffering the video slowly, please play the REGULAR MP4 VERSION or Open The Video below for better experience. Thank you!)
_edd-card-information.jpg)
_frozen-edd-debit-cards-or-missing-funds-what-to-do-who-to-call.jpg)
_things-golfers-forget-to-do-before-a-competition.jpg)
_apply-for-unemployment-benefits-with-ui-online.jpg)
_currency-code-caused-card-duplication.jpg)
_do-you-have-the-right-debit-card-5-best-debit-cards-no-fees-high-apy-and-perks.jpg)
_testing-and-unboxing-acorns-debit-might-oak-card.jpg)
_gen-z-has-a-credit-card-problem.jpg)
❮❯
1 / 10
2 / 10
Play Video: (Note: The default playback of the video is HD VERSION. If your browser is buffering the video slowly, please play the REGULAR MP4 VERSION or Open The Video below for better experience. Thank you!)
3 / 10
4 / 10
5 / 10
6 / 10
7 / 10
8 / 10
9 / 10
10 / 10
![[+]](/images/menu.gif){kind=small}