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Credit card debt increases by $50B to new record high

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SouthJamaica
Mega Contributor

Credit card debt increases by $50B to new record high

Credit card debt increases by $50B to new record high

https://thehill.com/business/4451222-credit-card-debt-increased-by-50b-new-record-high/


Total revolving limits 741200 (620700 reporting) FICO 8: EQ 703 TU 704 EX 687

Message 1 of 6
5 REPLIES 5
flexin222
Regular Contributor

Re: Credit card debt increases by $50B to new record high

Thanks for the info SJ! Lucy, you're in trouble...This is terrible news for a lot of Americans living paycheck to paycheck. CC companies are gonna start lowering credit limits and closing accounts. Then, Jeez...Auto loans and Mortgages. 2024 is gonna be something.









Message 2 of 6
ThomasJNewton
Frequent Contributor

Re: Credit card debt increases by $50B to new record high


@SouthJamaica wrote:

Credit card debt increases by $50B to new record high

https://thehill.com/business/4451222-credit-card-debt-increased-by-50b-new-record-high/


I just want to note that less than half of that is mine (I am not sure exactly how much less than half, but I am sure it is less than half). :-)

Message 3 of 6
youngandcreditwrthy
Senior Contributor

Re: Credit card debt increases by $50B to new record high

@ThomasJNewton mines another third lol

Marriott PR$25k | BCE $24.5K |BankAmericard Visa $25k| BOA Better Bal $17.5k |Wmt Discover $12.5k | BR Visa $17.5k | Amex Delta Gold $10k | Discover IT $10k | Paypal Extras MC $15k | Amazon Store $10k|Smile Gen $7.25k | Dillard's $10k | West Elm $4k| Express $3.05K | Mypoints.com Visa $4.5k | Freedom Visa $1k| Amex Surpass $1k
Message 4 of 6
CreditPoor
Regular Contributor

Re: Credit card debt increases by $50B to new record high

You're already seeing it. People with lots of unused credit are having there limits decreased to reduce risk. Banks aren't going to let people sit around with lots a credit and run the risk of default. People under 700 credit score and dings on credit will struggle with getting approved. 

Message 5 of 6
Blender
Established Contributor

Re: Credit card debt increases by $50B to new record high

And the stock market makes new highs weekly. Everything's fine.

4/2024


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