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Household debt and delinquency rates increased in the first quarter, according to data from the New York Federal Reserve. Credit card balances in serious delinquency, or more than 90 days late, reached the highest level since 2012 while delinquency rates across all debt types rose. Overall household debt grew to over $17 trillion driven by rising mortgage balances, though credit card debt dipped post-holidays. Delinquency transition rates remain below Great Recession peaks but are higher than pre-pandemic levels.
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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.
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Ben Campbell is a young, highly intelligent student at M.I.T. in Boston who strives to succeed. Wanting a scholarship to transfer to Harvard School of Medicine with the desire to become a doctor, Ben learns that he cannot afford the $300,000 for the four to five years of schooling as he comes from a poor, working-class background. But one evening, Ben is introduced by his unorthodox math professor Micky Rosa into a small but secretive club of five students, Jill, Choi, Kianna, and Fisher, who are being trained by Professor Rosa in the skill of card counting at blackjack. Intrigued by the desire to make money, Ben joins his new friends on secret weekend trips to Las Vegas where, using their skills of code talk and hand signals, they have Ben make hundreds of thousands of dollars in winning blackjack at casino after casino. Ben only wants to make enough money for the tuition to Harvard and then back out. But as fellow card counter Jill Taylor predicts, Ben becomes corrupted by greed and his arrogance at winning which lets his feelings get in the way, and it also puts Professor Rosa, as well as the group, on the radar of a brutal casino security enforcer named Cole Williams, who holds a personal grudge of some kind against Rosa which threatens to undo everything the students have learned and earned.<br/>-----------------------------------------------------------------------------------------<br/>Subscribe to watch more movie recaps videos like this! <br/><br/>Subscribe to our other social media accounts for daily updates, movie recommendations and more <br/><br/>1. Twitter = https://twitter.com/MysteryRecapped?t=wDET5JG0vrZy-nHpynDuAA&s=09<br/>2. Instagram = https://www.instagram.com/mysteryrecapped/<br/>3. Tiktok = https://vt.tiktok.com/ZSemvw9y4/<br/>4. Adam's YT= https://www.youtube.com/channel/UCwvlZqkEmAeZJLQuKTtEwjg/videos
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