Credit Card Debt Nears $900 Billion, Highest Since 2007

Credit card debt could cross $900 billion by the end of the year, bringing the average indebted household’s balance to $7,813, which is the highest amount since the Great Recession, cautions CardHub. CardHub published its 2015 Credit Card Debt Study for Q2 2015, wherein it noted that credit card users are reverting to pre-downturn bad habits.

CardHub strikes cautionary tone for 2015

ValueWalk analyzed the main findings for Q1 2015 as published by CardHub’s report. We highlighted how American consumers were still paying off the massive amounts of credit that were particularly used during Q4 2014. American consumers ended 2014 with over $57 billion in fresh credit debt and effectively increased the average household...