Americans' credit card debt hits a record $1 trillion | CNN Business
www.cnn.com
Americans’ credit card debt levels have just notched a new, but undesirable, milestone: For the first time ever, they’ve surpassed $1 trillion, according to data released Tuesday by the Federal Reserve Bank of New York.

Americans’ credit card debt levels have just notched a new, but undesirable, milestone: For the first time ever, they’ve surpassed $1 trillion, according to data released Tuesday by the Federal Reserve Bank of New York.

  • JeSuisUnHombre@lemm.ee
    252·
    1 year ago

    No one has enough money to live anymore. This isn’t a problem of people being reckless, they’re using credit because there isn’t enough money coming in to pay for everything.

      • GiddyGap@lemm.ee
        11·
        1 year ago

        Things are only crazy expensive because wages and salaries don’t follow along.

      • NathanielThomas@lemmy.world
        12·
        1 year ago

        What qualifies as reckless though? I mean, I needed to use my CC for a German vacation. I don’t have $3k idly sitting around.

        Seeing the world and going on vacation is a necessity, otherwise what’s the purpose of life?

        • electrogamerman@lemmy.world
          1·
          1 year ago

          I would say depends on how often you are taking $3k for vacation and how long it takes to pay it back. If you are taking vacation more often than you can pay back, then that’s reckless.