US households now have over $16,000 in credit-card debt

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Indebted households today have credit card balances averaging $16,061 — just shy of 2008’s high, according to a new NerdWallet report, based on data from the Federal Reserve Bank of New York and the Census Bureau.

And total household debt, including mortgages, has ballooned to $132,529, up from $88,063 in 2002, when NerdWallet started tracking the data. While household income has grown by 28 percent in the past 13 years, it lags the the cost of living, which increased 30 percent during the period.

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1 thought on “US households now have over $16,000 in credit-card debt”

  1. The article would be more accurately reported broken down by income levels. The source “Nerd Wallet” made a jab at it. But even that was woefully short. But by what they did reveal, households that make above 150k/year are 10k in credit card debt and the lower ones income the lower the debt on average. Any amount is still an obscene amount when one considers that debt is slavery. We shouldn’t be voluntarily supporting the thieves that are stealing our economic future.

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