Credit Cards

Consumer credit card debt accelerated in the second quarter

Balances rose by $27 billion to reach $1.14 trillion

Total household debt increased by $109 billion in the second quarter to reach $17.8 trillion. But the headline number in the report from the Federal Reserve Bank of New York was credit card debt.

Consumers increased their balances on this extremely high-interest debt by $27 billion to reach $1.14 trillion. That’s nearly 25% of all new household debt in the April through June quarter, and when you consider the interest rate on that new debt is around 20% of higher, you se...

Read article 08/07/2024

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Credit Cards

Consumer credit card debt accelerated in the second quarter

Balances rose by $27 billion to reach $1.14 trillion

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Consumer credit card debt accelerated in the second quarter

Balances rose by $27 billion to reach $1.14 trillion

Latest Articles

Recent Articles

Feds scrutinize medical credit cards sold by dentists and doctors

A new form of medical debt can create financial ruin for anyone who gets sick

The pros and cons of paying rent with a credit card

A lot depends on the rewards and your financial discipline

Proposed rule will give buy now, pay later customers greater protection

You'll be protected just like you are with a credit card

Can cashback credit cards fill in the gaps that inflation is causing?

One expert shares their go-to, ace-in-the-hole secret

Washington and airlines may be about to clash over credit card points

Get some popcorn and take a seat because this fight could be better than the WWE

The surcharge for using a credit card may be about to fall

Merchants reach settlement with credit card companies on 'swipe fees'

The one thing that you – as a consumer – keep getting wrong

Account 'closed'– or was it?

Capital One is buying Discover Financial Services

Capital One says it plans to maintain the Discover brand on credit cards

Credit cards to get a lot safer and harder for you to be scammed

This could be the game-changer that scammers have been dreading

Medical credit cards draw consumer group's scrutiny

US PIRG offers some alternatives that are worth considering

Swipe fees may be set to spike again, costing consumers

Financial experts offer suggestions on how consumers can deal with this

Wegman’s says it accidentally double-billed some shoppers

If you bought groceries recently, check your credit card account

How satisfied are you with your credit card?

J.D. Power says as total debt goes up, satisfaction goes down

Credit card swipe fees could drive up families’ Fourth of July costs a half billion dollars

Is there a way consumers can save? Yes, but not everywhere.

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