Credit Card Debt Hits $7,886 per American as 23% Rates Keep Balances Growing

Quick Read Average American cardholder owes $7,886 with credit card interest rates near 23%. Issuer margins prevent Fed rate cuts from lowering credit card APRs for consumers. Minimum payments of 1-3% go mostly to interest, requiring decades to eliminate balances. Investors rethink ‘hands off’ investing and decide to start making real money Credit card debt has reached crisis levels, with the average American cardholder now owing$ 7,886. When combined with interest rates near 23%, this creates a ...