Read More Credit Card Statistics

Credit Card Statistics

Another month, another significant jump for American credit card balances. The latest consumer debt data from the Federal Reserve shows that consumer credit card debt grew 8.2% in May, lifting Americans’ outstanding consumer credit card balances to $1.072 trillion — extending the all-time record. It’s the second consecutive month that we’ve seen growth of around […]

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Read More Music Festivals Drive Many Americans into Debt

Music Festivals Drive Many Americans into Debt

About 1 in 4 Americans who attended a music festival in the past year are currently paying off debt related to a festival, according to a new report from CompareCards.com — and that includes nearly a third of millennials. Giant music festivals like Lollapalooza, Coachella, Bonnaroo and Austin City Limits grab lots of headlines, but […]

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Read More 13% of Millennials are Debt-Free, Credit Card Debt Most Common Problem

13% of Millennials are Debt-Free, Credit Card Debt Most Common Problem

When the words “debt” and “millennial” are written in the same sentence, it usually has to do with the nation’s trillion-dollar student loan debt crisis. But a recent CompareCards survey found that student loan debt isn’t the most common debt weighing down millennials: It’s credit card debt. Sixty-seven percent of millennials report having credit card […]

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Read More About Half of Cardholders Back a Credit Card Rate Cap, Even If It Means Reduced Access to Credit and Rewards

About Half of Cardholders Back a Credit Card Rate Cap, Even If It Means Reduced Access to Credit and Rewards

More than 8 in 10 American credit cardholders would support some version of a credit card interest rate cap similar to the one recently proposed by Sen. Bernie Sanders and Rep. Alexandria Ocasio-Cortez, according to a new report from CompareCards.com. However, the report showed major cracks in support for a cap when cardholders were asked […]

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