Credit card debt increases by $50B to new record high

[SouthJamaica]

Credit card debt increases by $50B to new record high

https://thehill.com/business/4451222-credit-card-debt-increased-by-50b-new-record-high/

[flexin222]

Thanks for the info SJ! Lucy, you're in trouble...This is terrible news for a lot of Americans living paycheck to paycheck. CC companies are gonna start lowering credit limits and closing accounts. Then, Jeez...Auto loans and Mortgages. 2024 is gonna be something.

[ThomasJNewton]

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@SouthJamaica wrote:

Credit card debt increases by $50B to new record high

https://thehill.com/business/4451222-credit-card-debt-increased-by-50b-new-record-high/

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I just want to note that less than half of that is mine (I am not sure exactly how much less than half, but I am sure it is less than half). :-)

[youngandcreditwrthy]

@ThomasJNewton mines another third lol

[CreditPoor]

You're already seeing it. People with lots of unused credit are having there limits decreased to reduce risk. Banks aren't going to let people sit around with lots a credit and run the risk of default. People under 700 credit score and dings on credit will struggle with getting approved. 

[Blender]

And the stock market makes new highs weekly. Everything's fine.