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Keyword: creditcardbalances

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  • Average credit card balances rise to more than $6,000 Credit card delinquencies reached highest levels in a year

    10/05/2023 10:19:58 AM PDT · by Signalman · 25 replies
    Fox Business ^ | 10/5/2023 | Javier Simon
    As Americans deal with stubborn inflation, they’re increasingly turning to credit cards to make ends meet. In fact, credit card originations rose 0.16% month-to-month in August, according to the latest data from VantageScore. And the average credit card balance jumped 11.1% year-over-year to reach $6,082. "In August, lenders tightened access to credit across most products and consumers continued to remain cautious about adding to their debt levels," Susan Fahy, the executive vice president and chief digital officer at VantageScore, said in a statement. "The data shows that over the summer many U.S. consumers began to feel the strain of rising...