So many concenring aspects within this aticle, but a couple of them are:
"(average household) coughing up about $1,140 a year in interest"
Yikes that is scary!
"At the same time, credit card interest rates have never been higher, setting the stage for potential problems for those at-risk consumers.
The average card interest rate is currently at a record 17.41 percent"
Not even sure that to say about this. If 17.41 is the average interest rate, that means a lot of people are paying much higher than that. In some case, could take decades to pay it off! I really feel bad for people in this category, as I was right there myself prior to 2012.
From the associated nerdwallet article:
"**The credit card debt figures in this chart represent revolving credit card balances — those that are carried from month to month — rather than all credit card balances. Total U.S. credit card outstanding debt stands at $944 billion, which includes both revolving and transacting balances"
Curious, in references:
And that is not linked anywhere. I'm not going to say the data is wrong, but if I can't see the source color me skeptical: why the push from lenders to distinguish revolved vs. transacted balances if this is already been available for six + months?