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DeepNewz, mobile.
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Credit card debt in America is a significant issue, with 45% of households in debt. The median balance is $2,700, and average is $6,100, having fallen since 2007. A substantial proportion of Americans rely on credit cards for basic expenses, leading to concerns about financial sustainability and the potential for a recession. Despite an increase in credit card accounts, delinquency and bankruptcy numbers have not seen a significant impact.
How America racked up a $1 trillion credit card bill https://t.co/nfZDQZy4gp
A substantial proportion of the US survives on credit cards as a supplementary loan market and is just barely making rent and mortgage payments (and often missing debt payments as debts mount), operating right at the edge of catastrophe. All it will take is one little push. https://t.co/IMZAX7x1mQ https://t.co/pCCJRzzm6B
Americans are spending big with credit cards. Here's what that means for the possibility of a recession https://t.co/4epQLnkWms