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Use of credit cards, personal loans surges

gdale6
Moderator

Use of credit cards, personal loans surges

 

  • The number of consumers with credit cards and personal loans reached record highs in the second quarter of 2022, driven by an increase in loans to subprime borrowers, according to the latest credit report from TransUnion.
  • Delinquencies are also back near pre-pandemic levels.
  • But as long as people have jobs, “I’m not seeing anything that I would really declare as a red flag,” TransUnion’s Michele Raneri said.

https://www.cnbc.com/2022/08/05/credit-card-usage-surges-amid-record-inflation.html

 

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SweetCreditObsession
Valued Contributor

Re: Use of credit cards, personal loans surges

This is interesting but not surprising. The sad part is that some may view these figures as a sign of "progress." 


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