{"id":4728,"date":"2023-11-08T16:06:10","date_gmt":"2023-11-08T14:06:10","guid":{"rendered":"https:\/\/www.dhcab.com\/?p=4728"},"modified":"2023-11-08T16:06:10","modified_gmt":"2023-11-08T14:06:10","slug":"us-%d1%81redit-card-debt-soars-to-1-08-trillion-delinquencies-rise-too","status":"publish","type":"post","link":"https:\/\/www.dhcab.com\/?p=4728","title":{"rendered":"US \u0441redit card debt soars to $1.08 trillion, delinquencies rise too"},"content":{"rendered":"<div class=\"postie-post\">\n<div>\n<div dir=\"auto\">Credit card debt in the US rose again in the Q3, as did the number of people missing payments.<\/p>\n<p>Credit card balances rose by $48 billion to a record high of $1.08 trillion, according to data released Tuesday.<\/p>\n<p>At the same time, the 90-day delinquency rate on credit cards rose to 5.78%, up from 3.69% a year earlier.<\/p>\n<p>According to the report, the increase in delinquency is seen across different regions and geographies, but is particularly acute among millennials and those with auto or student loans.<\/p>\n<p>These people were born and raised at a time when absolutely every single thing around them is purchased with a loan as the rates have been going down continuously since 1980.<\/p>\n<p>That is why they are less inclined to slow down their consumption and to start saving even when the situation in the economy worsens.<\/p>\n<p>People borrow more, hoping that the difficulties due to high borrowing costs are temporary and are about to end.<\/p>\n<p>However, experts from many financial institutions, including those in the US, have already said that &#8216;the time of cheap money\u2019 is over.<\/p>\n<p>In this regard millennials who have no experience in budgeting in an inflationary and high interest rate world, can expect very unpleasant consequences.<\/p><\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Credit card debt in the US rose again in the Q3, as did the number of people missing payments. Credit card balances rose by $48 billion to a record high of $1.08 trillion, according to data released Tuesday. At the same time, the 90-day delinquency rate on credit cards rose to 5.78%, up from 3.69% [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":4729,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[25],"tags":[],"class_list":["post-4728","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-global-issues"],"_links":{"self":[{"href":"https:\/\/www.dhcab.com\/index.php?rest_route=\/wp\/v2\/posts\/4728","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.dhcab.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.dhcab.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.dhcab.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.dhcab.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=4728"}],"version-history":[{"count":0,"href":"https:\/\/www.dhcab.com\/index.php?rest_route=\/wp\/v2\/posts\/4728\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.dhcab.com\/index.php?rest_route=\/wp\/v2\/media\/4729"}],"wp:attachment":[{"href":"https:\/\/www.dhcab.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=4728"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.dhcab.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=4728"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.dhcab.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=4728"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}