Nearly half of Millennials, Gen Xers have more credit-card debt than savings ...Middle East

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Nearly half of Americans in their prime working years, ages 27 to 58, now have credit-card debts that exceed the balance in their savings accounts, according to a new survey. Roughly 45 percent of Millennials and Generation X consumers report credit-card balances greater than their savings or emergency funds, according to an annual emergency savings report released this week by Bankrate, the consumer lending site. The nation’s credit-card debt reached a record $930 billion at the end of last year, according to an analysis by the TransUnion credit agency. And interest rates are sky-high: around 19 percent for existing accounts, 22 percent for new applicants, by one NerdWallet est

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Last updated : 24 February 2023 clock 11:24 PM

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Nearly half of Millennials, Gen Xers have more credit-card debt than savings ...Middle East

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