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Credit card debt

Americans’ use of credit is growing, but slowing 

by Stephanie Hughes
Feb 8, 2023
In 2022, consumer credit increased 7.8% from the year before. But in December, the growth in borrowing decelerated.
Consumer credit increased 7.8% last year, according to recent Federal Reserve data. But some Americans appear to be getting more cautious about debt.
Scott Olson/Getty Images
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Study details young people's struggles to keep pace with debt payments

by Samantha Fields
Dec 16, 2022
About 20% of young adults with a credit report have debt in collections, report shows. As a group, they may face higher borrowing costs.
A study from the Urban Institute discusses the financial problems of many young people who have auto loans.
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Americans are saving little — while they spend up a storm

by Samantha Fields
Dec 1, 2022
The personal saving rate declined in October to its lowest point since 2005. "A lot of people are close to the edge, unfortunately," an analyst says.
Consumers are increasingly dipping into their savings to pay for things — including basic expenses.
Jessica McGowan/Getty Images
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Black Friday riddle: Consumers are financially stressed, but still spending

by Mitchell Hartman
Nov 25, 2022
Their debt levels are rising as the holiday shopping season ramps up. It helps that unemployment is low.
Black Friday shoppers take a moment to rest in massage chairs at the Opry Mills mall in Nashville, Tennessee.
Seth Herald/AFP via Getty Images
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Credit card debt is back up to pre-pandemic levels, says Equifax report

by Samantha Fields
Nov 7, 2022
Here's why it's rising, and what it says about consumers' finances.
Credit card debt is on the rise.
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Credit card debt is up 13% from last year, New York Fed reports

by Samantha Fields
Aug 3, 2022
That’s the biggest year-over-year increase in 20 years. Inflation is just part of the reason.
Credit card debt increased by 13% over recent months as consumers go back to pre-pandemic spending habits, like going to restaurants or traveling.
Matt Cardy/Getty Images
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We're saving less. Will we spend less?

by Sabri Ben-Achour
Jun 14, 2022
After reaching a record high of nearly 34% early in the pandemic, the savings rate has dipped below its pre-pandemic level.
Travelers board a train in Washington, D.C. Partially fueled by pent-up demand for services, consumers are spending down their savings.
Drew Angerer/Getty Images
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Consumers are spending up a storm — and spending down their savings

by Mitchell Hartman
May 27, 2022
Even though they're pessimistic about the economy and economists worry about a recession.
Americans are spending more money than they've got coming in each month.
Patrick T. Fallon/AFP via Getty Images
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Can you negotiate your credit card rate?

by Julia Schiff
May 20, 2022
Credit Counselors can work with banks to bring down interest rates in order to get debt paid off.
Your credit card interest rate is negotiable — in a way.
Creative/Getty Images Illustration by Julia Schiff
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Double whammy: Credit card debt grows as interest rates rise

by Savannah Maher
May 9, 2022
Americans have a $860 billion credit card balance, according to the Federal Reserve Bank of New York.
After paying down credit card debt for the past few years, Americans have gone back to high spending.
Joe Raedle/Getty Images
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