arkflyr
Well-Known Member
The red lights are flashing everywhere, credit card delinquencies are in the rise and while they could be cherry pickling, someone with an income of 194,000/year falling behind doesn’t bode well for the K shaped recovery.
Despite her $194,000 salary, Clarke’s Chase Sapphire credit-card balance had crept up to $15,000. She could afford the $572 monthly minimum, but with a 26% interest rate, it barely made a dent.
Americans Are Falling Behind on Their $1.25 Trillion Credit-Card Bill — The Wall Street Journal
Soaring interest rates and stubborn inflation have led to highest delinquencies since the financial crisis; ‘a pattern of survival debt’
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