Americans' credit card debt hits a record $1 trillion | CNN Business
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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.

  • relative_iterator@sh.itjust.works
    10·
    1 year ago

    I use my credit card for every purchase I make and get 1.5% cash back. I pay off my balance every month in full to avoid any interest. That 1.5% can add up pretty quickly and it’s basically free money.

    • hellishharlot
      31·
      1 year ago

      If you lose your job though that free money dries up lightning fast

      • ProdigalFrog@slrpnk.net
        2·
        1 year ago

        It’s free only if you have the ability to fully pay off your card every month, otherwise it is not free due to interest, yes.

    • snooggums@kbin.social
      22·
      1 year ago

      And everything costs 5-10%% than it would without all the cash back and other rewards programs.