Carrying a credit card balance is costing you $1,140 per year — and is about to get much worse

Tue, 12/05/2023 - 10:01

Tech Insider

Economy

• Americans spent $164 billion on credit card interest and fees in 2022.
• The timing of this growth in debt couldn't come at a worse time.
• Not only are balances ballooning, but interest rates are also soaring.

Credit card debt is already at a record level and growing at a time when interest rates for those accounts are also skyrocketing.

Tags

economy, credit-cards, credit-card-debt, consumer-confidence, late-fees, interest-rates

Source

Carrying a credit card balance is costing you $1,140 per year — and is about to…