35% of households used credit cards to cover basic expenses in December
A growing number of Americans are relying on credit cards to pay for basic expenses as relentless inflation erodes more households’ purchasing power.
New data released by the Census Bureau this week found that more than 35% of households used credit cards or loans in December to assist with spending needs in the past week. That marks an increase from 32% in November and just 21% in April 2021, according to the Household Pulse Survey.
The rise in credit card usage is somewhat concerning because interest rates are astronomically high right now. The average credit card APR, or annual percentage rate, set a new record high of 19.14% last week, according to a Bankrate.com database that goes back to 1985. The previous record was 19% in July 1991.
Then everyone goes Bankrupt !!!!! That is coming
Revolving credit should be ILLEGAL !!!!!! It Ruins more people Financially than anything else !!!!!
Biden has RUINED AMERICA !!!!! We will never be able to Pay these Doubled & Tripled Prices !!!!!!
They are out of choices. No money,. Can’t make it stretch from payday to payday anymore. Groceries up every week. Gas easing on back up. Inflation is killing us. Obiden does not give a damn about this country or it’s citizens. He only cares about himself, his crooked family and illegals.
What else can people do > Rob a bank ????? Democrats RUINED America !!!!!!
People are BROKE living week to week While Democrats & Biden Give away $$$$ BILLIONS to others !!!!!!!!
Think before you let another COUP like 2020 take over your Govt !!!!!!!!!