US credit card debt hit a record high as inflation leaves consumers financially stressed


credit cards worthy ministries(Worthy News) – Americans are relying on credit cards more than ever. But as prices remain stubbornly high, they’re also having trouble making payments on time.

In the last quarter of 2022, credit card balances increased by $61 billion to $986 billion, a record high according to the New York Federal Reserve Bank’s Quarterly Report on Household Debt released on Thursday. The previous high for credit card balances was set before the pandemic at $927 billion.

The latest data is a major reversal from two years ago when Americans were rapidly paying off credit card debt with stimulus money they received. And at the same time, they weren’t taking on more debt to pay for big-ticket expenses such as vacations because of the pandemic. [ Source: USA Today (Read More…) ]

12
people are currently praying.

Worthy News reports from a biblical worldview with a commitment to accuracy, transparency, and editorial independence. Learn more about About Worthy News, our Editorial Standards, AI Use Policy, Ownership of Worthy News, News Tips and Corrections, and Worthy News Staff.

💡 Did you know? One of the best ways you can support Worthy News is by simply leaving a comment and sharing this article.

📢 Social media algorithms push content further when there’s more engagement — so every 👍 like, 💬 comment, and 🔄 share helps more people discover the truth. 🙌

Latest Worthy News

Jetstar, Qatar Airways Jets In Sydney Near-Miss Amid Air Traffic Control Concerns
Netanyahu Rejects Trump-Backed Gaza Plan, Says Israel Will Not Withdraw Until Hamas Fully Disarms
Europe’s Heatwaves Expose Vulnerability Of Wind-Dependent Power Systems (Worthy News Investigation)
Christian Father And Youth Killed In Pakistan Amid Rising Anti-Christian Violence
Lake Mead Falls to Historic Low as Colorado River Crisis Deepens
Former NBA Players Declare for WNBA Draft, Putting Transgender Eligibility Rules to the Test
Senate Passes Government Funding Stopgap, Leaves Town
U.S. Presses Egypt Over Rising Christian Persecution, Religious Freedom Abuses
Iran Sets Sweeping New Demands to Reopen Strait of Hormuz, Tells U.S. to ‘Correct Its Behavior’
Fair Use Notice:This site contains copyrighted material the use of which has not always been specifically authorized by the copyright owner. We are making such material available in our efforts to advance understanding of environmental, political, human rights, economic, democracy, scientific, and social justice issues, etc. We believe this constitutes a 'fair use' of any such copyrighted material as provided for in section 107 of the US Copyright Law. In accordance with Title 17 U.S.C. Section 107, the material on this site is distributed without profit to those who have expressed a prior interest in receiving the included information for research and educational purposes. For more information go to: http://www.law.cornell.edu/uscode/17/107.shtml. If you wish to use copyrighted material from this site for purposes of your own that go beyond 'fair use', you must obtain permission from the copyright owner.

Books by George Whitten

Identity in Messiah Revealed cover

Identity in Messiah Revealed https://identityinmessiah.com

A devotional journey calling believers out of self-doubt and into confident, Kingdom-rooted identity in the Messiah.

Get it on Amazon
The Biblical Fall Feasts Revealed cover

The Biblical Fall Feasts Revealed https://biblicalfallfeasts.com

An in-depth look at the Biblical fall feasts and their prophetic significance for believers today.

Get it on Amazon
Worthy Christian News