Tag: Payment systems
US Credit Card Debt Reaches 18.5%, Hits Record $930.6 Billion
Inflation in combination with rising interest rates are leading more Americans to spend borrowed money on necessities like food and rent. This week, the Federal Reserve increased interest by a quarter of a point; however, the recent hike is more modest than previous raises, and marks the eighth hike since March of 2022. The post US Credit Card Debt Reaches 18.5%, Hits Record $930.6 Billion…