The burden of bank card debt is heavy. What number of adults carried this additional weight final yr?
Reply: 37%
37% of all adults carried a stability. That quantity jumps to 46% for adults who’ve a bank card.
Questions:
- What does it imply to “carry” bank card debt?
- Bank card corporations record a minimal cost due in your month-to-month assertion. What occurs if you happen to solely make the minimal cost?
- Although it’s costly to hold bank card debt, why would possibly some shoppers not pay their bank card invoice in full each month?
- What are some methods that can assist you keep away from carrying bank card debt?
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Behind the numbers (Federal Reserve Board):
“Whereas bank card possession has elevated over the previous decade, carrying a bank card stability has grow to be much less prevalent. In 2024, 46 % of bank card house owners stated they carried a stability at the least as soon as in the course of the prior 12 months, down 11 proportion factors since 2015 (determine 28).
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Our Video Library contains this nice video to study extra: Credit score Card Debt Defined
