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Credit Card debt reaches 870 Billion, with almost 480 Million cards

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Credit Card debt reaches 870 Billion, with almost 480 Million cards

  Found this interesting... U.S. credit card balances hit record $870B in December: Fed

Mar. 5, 2019 8:17 AM ET|About: American Express Company (AXP)|By: Liz Kiesche, SA News Editor 

U.S. credit card balances rose by $26B during the last quarter of 2018 to hit a record $870B as of December and "marks the first time credit card balances re-touched the 2008 nominal peak," according to a Federal Reserve report.

Almost 480M credit cards are in circulation, up by more than 100M since its trough after the 2008 recession.

Of those cards, about 37M accounts, holding ~$68B in debt, were 90+ days delinquent during the quarter, up about 2M from Q4 2017.




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Established Contributor

Re: Credit Card debt reaches 870 Billion, with almost 480 Million cards

It looks like 37M cardholders better sign up for FF!


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Credit Card Debt Closed 2018 at a Record $870 Billion

....About 37 million credit card accounts had a 90+ days delinquent mark added to their credit report last quarter, an increase of about two million from the fourth quarter of 2017.... 

https://www.bloombergquint.com/onweb/u-s-credit-card-debt-closed-2018-at-a-record-870-billion#gs.JxZ...

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Re: Credit Card debt reaches 870 Billion, with almost 480 Million cards

not that bad, since the paper dollar has lost 20-50% of it's value since 2008

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Established Contributor

Re: Credit Card debt reaches 870 Billion, with almost 480 Million cards

$43 of that 870 billion is mine Smiley Surprised











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