According to the Federal Reserve the first increase in credit-card debt since the financial crisis hit helped to boost overall consumer borrowing 3 percent in December, to a seasonally adjusted annual rate of $2.41 trillion. Americans are putting more money on their credit cards after more than two years of cutting back, a sign that more »
Tag: The Economy
More people are paying down their credit card balances. AP reported that the amount consumers owed on credit cards in the second quarter “dropped to the lowest level in more than 8 years.” According to figures provided by TransUnion, the average combined debt for bank-issued credit cards dropped to just under $4,951 in the three more »