Economy
U.S. Credit Card Debt on Track to Rise by $55 Billion in 2014
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The data are contained in the latest study from CardHub.com, which also notes that the second-quarter increase was 46% higher than the next highest second-quarter debt buildup (2011) and nearly 200% higher than the increase in the second quarter of 2009.
Here are a few more data points from the CardHub report:
At the end of the second quarter of this year, the Federal Reserve Bank reported that revolving debt outstanding in the U.S. totaled $875.2 billion, up from $853.2 billion at the end of the second quarter of 2013. At the end of the second quarter revolving debt was up about $14 billion sequentially. Also according to the Fed, total U.S. consumer debt at the end of the second quarter was $3.169 trillion, up $65 billion sequentially and up more than $202 billion year over year.
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