Biggest Credit Card Debt Increase Since The RecessionRupert Hargreaves
According to research from CardHub, a search tool that specializes in helping users find and apply for credit cards, consumers went on borrowing binge during the second and third quarters of this year, racking up $53.3 billion in new credit card debt over the period.
It's difficult to tell why consumers decided to splurge this year.
Consumers started the year well, repaying $35 billion in credit card debt during the first quarter. However, almost all of this gain was wiped out during the second quarter as consumers took on $32 . . .
This content is exclusively for paying members. Sign up here
If you are subscribed and having an account error please clear cache and cookies if that does not work email email@example.com or click chat