US credit card debt hits historic high – data ...News

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US credit card debt hits historic high – data
source : Russia Today ( News ) () 62
Balances have soared by a record $150 billion year-on-year US credit card debt continued to surge in July-September this year, marking the eighth consecutive quarter of year-over-year increases, economists at the New York Federal Reserve bank said in a report this week. According to their calculations, credit card balances increased by $48 billion (4.7%) from the previous three months and by $154 billion on an annual basis, the highest increase since records began in 1999. This brought the total outstanding credit card debt to a new record high of $1.08 trillion. Meanwhile, mortgage balances also surged to $12.14

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