Consumers are increasingly struggling to pay their credit card bills, raising concerns about severe delinquencies spiraling and sapping consumer spending. A year ago severe delinquencies totaled only 8.2% of credit card debt. Meanwhile total credit card debt rose to $1.12 trillion from just under $1 trillion a year ago.
Borrowers Struggle With Credit Card Debt
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Strong spending is obscuring an economy that isn t working for many Americans | Hellenic Shipping News Worldwide
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Borrowers, Especially the Young, Struggle With Credit Card Debt in Potentially Bad Sign for Economy
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