Sign up today for an exclusive discount along with our 30-day GUARANTEE — Love us or leave, with your money back! Click here to become a part of our growing community and learn how to stop gambling with your investments. We will teach you to BE THE HOUSE — Not the Gambler!

Click here to see some testimonials from our members!

Consumer Credit Card Debt Explodes In July Despite Rates At 18-Year Highs

Courtesy of ZeroHedge View original post here.

Consumer Credit Card Debt Explodes In July Despite Rates At 18-Year Highs

Something is not quite right here.

Despite The Fed signaling rate-cuts as far as the eye can see, US credit-card interest rates have soared to the highest since 2001.

And despite credit card rates being at 18-year highs, US revolving debt (largely made up of credit card debt) has exploded in July to its highest on record.

Source: Bloomberg

This was the biggest MoM jump in revolving debt since Nov 2017

Source: Bloomberg

Is the American consumer really that healthy? The recent exuberance over retail sales gains seems to be largely predicated on the back of an average joe who is forced to use his high-cost credit card to cover everyday expenses.

 

 


Do you know someone who would benefit from this information? We can send your friend a strictly confidential, one-time email telling them about this information. Your privacy and your friend's privacy is your business... no spam! Click here and tell a friend!





You must be logged in to make a comment.
You can sign up for a membership or get a FREE Daily News membership or log in

Sign up today for an exclusive discount along with our 30-day GUARANTEE — Love us or leave, with your money back! Click here to become a part of our growing community and learn how to stop gambling with your investments. We will teach you to BE THE HOUSE — Not the Gambler!

Click here to see some testimonials from our members!