Tim Conway Jr

Tim Conway Jr

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Credit Card Balances Up 13% As Consumers Struggle With Inflation

With prices continuing to go up, more Americans are leaning on credit cards to get by.

  • According to a new report, credit card balances wnet up 13% last quarter - the biggest jump in more than 20 years.
  • Last quarter also saw 233 million new credit card accounts opened - the most since 2008.
  • Despite the increase, overall credit card debt is actually lower now than it was pre-pandemic.
  • How much do you use your credit cards on a regular basis? Have you had to use them more in the last six months?

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