Seems those previous reports over the past few years on Americans lessening credit card debt are no longer accurate.
MarketWatch reports U.S. residents now have more debt from credit cards… than ever before. Over $1 trillion!!!
Financial experts predict credit card debt will increase… for the 5th straight year… and the number of families who struggle with credit card payments will increase this year due to unnecessary purchases.
Nerdwallet surveyed 2000 consumers in November and 41% spend over what they can afford on things they do not need.
Currently, American’s average $2,930 in credit card debt, which is 4.64 above the previous year.
More details at MarketWatch.