Credit Card Debt Increases Nationwide As Inflation Soars

by News Update

As inflation soars, new data shows that many Americans are charging their credit cards more. Credit card debt has jumped 13 percent in one year, the biggest increase in 20 years. While balances still remain below pre-pandemic levels, interest rates could soon soar to record highs as the Fed continues to hike rates. Meanwhile, the White House is noting some inflation relief with gas prices now averaging $4.16 per gallon.

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23 comments

Karate Kid aka Katelyn August 4, 2022 - 9:03 AM

The problem STARTS with the deadbeats who spend more than they can afford. Their debts screw up the rest of the economy.

Minh Tran August 4, 2022 - 9:12 AM

Pump more oil? I guess people forget the record heat they're in

Steve Cohen August 4, 2022 - 9:12 AM

Even with the current inflation rate and economic downturn I'm not bothered about the market fluctuations because I have been earning $ 34,970 returns from my $6,000 investment every 14days.

Aeltgen August 4, 2022 - 9:14 AM

I don’t have credit card debt. My credit is too bad lol

Beatriz Carr August 4, 2022 - 9:14 AM

Let’s not forget NBC pushed all the false narratives for years. Still boycotting, but peek in to see if they are becoming more unbiased

Bruce Boucher August 4, 2022 - 9:17 AM

Won't be me … Got rid of the cards … Never want another too bad Biden don't let the united States become oil independent…aoc and the new green deal

RussianTanksAreMadeOfPotatoes August 4, 2022 - 9:18 AM

Where all them stimmy checks and pitcoin money go???

V I August 4, 2022 - 9:19 AM

Trump did this…

Big Picture Thinking August 4, 2022 - 9:21 AM

It’s the final countdown.

Marco Cueva V August 4, 2022 - 9:21 AM

https://youtu.be/zmO-uAlgLx4 This is the truth about everything

Henri Lamarche August 4, 2022 - 9:24 AM

Max those cards out. That's what they're for. You don't have to pay it off. LIVE IT UP!!

Richard Murphy August 4, 2022 - 9:39 AM

THE GOVERBMENT WANTS YOU TO PUT YOU IN DEBT JUST TO SURVIVE IF YOU ARE NOT EXTENDED AS FAR AS YOU CAN BE .. HOW COULD THEY CONTROL YOU THEY DON'T WANT YOU TO HAVE A DIME EXTRA SO THEY ARE WATCHING YOUR BANK ACCOUNTS AND LINE OF CREDITS TO NAJE SURE YOU CAN'T DO ANYTHING WITHOUT BEING DEPENDANT ON THE GOVERNMENT. IT'S ALL ABOUT CONTROL….

Abel1120 conlget August 4, 2022 - 9:52 AM

she wanted.. not him… hahaha

Quang Nguyen August 4, 2022 - 9:56 AM

Bull……Let make America great again. F…. Let make America debt again!

ChUpa August 4, 2022 - 9:56 AM

Use your credit card like a debit card then send a payment the day or week… its not that hard 💀😂

key gen August 4, 2022 - 10:08 AM

credit card forgiveness.. here it come..👍

Halim Talafuka August 4, 2022 - 10:10 AM

QOBILTU.ALHAMDULILLAHIROBBIL ALAMIIN,ALLAHUMMA AMIIN.☆☆☆☆☆.@$#.

tilly burton August 4, 2022 - 10:20 AM

Who cares. Americans are gonna run up the plastic and claim bankruptcy after. Credit card company deserves this, they had no problems given credit to those who should not have it, so Americans…. go to town on the plastic. I'm sure your state will forgive your debt.

Thesilent One August 4, 2022 - 10:46 AM

I don't use credit cards so idk what my credit score is probably dead 💀 🤣.

You Tube August 4, 2022 - 10:53 AM

I used citi bank double cash back. I pay it off every month and get 2% of every purchase back. If you spend cash, nothing back.

The 46% were already living paycheck to paycheck. Now, with this inflation, they don't have enough to pay all the bills and it's going to snowball just like the subprime housing market did. The 46% almost all have cars, rent that they cannot afford. First the credit cards won't get paid, then insurance payments then the car payments.

animus advertere August 4, 2022 - 11:00 AM

credit cards charge like 20% interest
are they insane?

Armageddon August 4, 2022 - 11:12 AM

But we're not in recession, so no worries, right?

Moist Daddy August 4, 2022 - 11:29 AM

Yay Capitalism ✝️🏛🇺🇸