The burden of bank card debt is heavy. What number of adults carried this additional weight final 12 months?
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 listing a minimal fee due in your month-to-month assertion. What occurs for those who solely make the minimal fee?
- Despite the fact that it’s costly to hold bank card debt, why may some customers not pay their bank card invoice in full each month?
- What are some methods that will help 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 change into much less prevalent. In 2024, 46 p.c of bank card homeowners mentioned they carried a stability at the very 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 be taught extra: Credit score Card Debt Defined
