Summary of Nearly 2 in 5 cardholders have maxed out a credit card or come close, ...

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2024-10-17 14:56:17

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Summary of Nearly 2 in 5 cardholders have maxed out a credit card or come close, report finds

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Nearly 2 in 5 cardholders have maxed out a credit card or come close, report finds

Higher prices and higher interest rates have caused many Americans to use more of their available credit. Gen X is particularly stretched.

https://www.cnbc.com/2024/10/17/survey-nearly-2-in-5-cardholders-have-maxed-out-a-credit-card-or-come-close.html

The article discusses how high prices and interest rates have led to many Americans maxing out their credit cards, with 37% of credit cardholders doing so since March 2022. The average credit card balance has increased by 4.8% year over year, and half of cardholders carry debt from month to month. The article also highlights the potential problems ahead, including credit card delinquency rates and the impact on credit scores.

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