Record High Credit Card Debt Strains American Finances Amid Inflation A growing segment of Americans, particularly those in lower- and middle-income brackets, have depleted their savings and accrued substantial credit card debt due to persistent inflation over the last two years. This financial strain is exacerbated for those also juggling student loan repayments, raising concerns about worsening financial health. Credit card debt in the U.S. reached a record high of over $1.05 trillion in the third quarter of 2023, with expectations for further increases. Moody’s has reported rising delinquency and charge-off rates, indicating a significant number of Americans are struggling to manage their debt, with rates surpassing those seen in 2019 and projected to continue rising. « Previous Article Next Article » Share This Article Choose Your Platform: Facebook Twitter Google Plus Linkedin Related Posts Fed's Latest Stress Test Scenarios: Banks Brace for Hypothetical Global Recession READ MORE Paul Tudor Jones Sounds Alarm on U.S. Debt Crisis READ MORE Half of Americans Feel the Pinch: Personal Finances Worsen Since 2020 Despite Inflation Easing READ MORE Texas Man Charged With Orchestrating Digital Currency Scam That Bilked Investors out of More Than $10 Million READ MORE ZeroHedge: Silver: The Moment to Take Action Has Arrived READ MORE Add a Comment Cancel replyYour email address will not be published.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