Growing Credit Card Debt: A Warning Sign for Investors The four largest U.S. banks have reported a significant increase in credit card expenditures in 2023, continuing an upward trajectory that began in 2020. Notably, JPMorgan Chase observed a 9% increase in credit card spending, reaching $1.2 trillion. This trend is mirrored at other major banks like Wells Fargo, with a 15% rise. More concerning is the growing trend of delayed repayments, as indicated by a 14% jump in unpaid balances at JPMorgan and a 9% increase at Bank of America. These patterns, coupled with rising delinquency rates since 2021, signal potential economic pressures and the need for prudent financial strategies in the years ahead. « Previous Article Next Article » Share This Article Choose Your Platform: Facebook Twitter Google Plus Linkedin Related Posts New Billboard in Times Square Sounds Alarm on $34 Trillion National Debt Crisis READ MORE "I've Been Warning About THIS For a YEAR, Well Here It Is" Decoding the Banking Sector Plunge READ MORE How Productivity Gains Could Shape the Fed's Inflation Battle READ MORE STAGFLATION & The Longest Yield Curve Inversion in History READ MORE Copper Prices Dip Amidst Dollar Strength and China's Real Estate Slump READ MORE Add a Comment Cancel replyYour email address will not be published. Required fields are marked *Name * Email * Save my name, email, and website in this browser for the next time I comment. Comment