U.S. credit card debt reached a record high of more than $1.2 trillion during the second quarter, reflecting the financial strain on many households.
With third-quarter results expected in November, attention is shifting to whether balances have continued to rise or if borrowers have managed to catch their breath. Some households have been able to reduce their balances, but many are relying more heavily on credit cards as the unemployment rate increases in several states.
Join As Newsmax Platinum Member for Unlimited Access!
Get exclusive Newsmax Platinum content that includes:
- Special investigative reports
- Go inside the Trump administration to find out what’s really happening
- Breaking political insider news from Washington
- In-depth interviews with A-list celebs and insiders driving the day's headlines
- Thousands of articles you won't find anywhere else!
All just by becoming a Newsmax Platinum Member today!
Sign Up for Platinum AccessLogin