Independent thinker
Diamond Member
- Oct 15, 2015
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Things are going just great! Americans just don't realize how great things are.
The share of credit card balances that are past due reached the highest level ever in the first quarter, according to data the Philadelphia Federal Reserve has tracked since 2012.
“The fact that we see more people carrying balances for a longer period of time, and now more people falling behind, is evidence of the struggle that millions of households are engaged in just trying to make ends meet,” said Greg McBride, chief financial analyst at the personal finance company Bankrate.
www.yahoo.com
The share of credit card balances that are past due reached the highest level ever in the first quarter, according to data the Philadelphia Federal Reserve has tracked since 2012.
“The fact that we see more people carrying balances for a longer period of time, and now more people falling behind, is evidence of the struggle that millions of households are engaged in just trying to make ends meet,” said Greg McBride, chief financial analyst at the personal finance company Bankrate.
Credit card delinquency rates hit a nearly 12-year high
Consumers are struggling to pay off their credit card debt even as many trim their spending, a new Philadelphia Fed report finds.
