The Credit Card Apocalypse has Begun

Americans are screwed. That is because U.S. credit card debt has just jumped almost 19%, hitting a record of $930 billion. The amount of credit card debt that Americans have right now has never been higher.

But you know as well as I do, that debt number by itself is not necessarily a terrible thing. We must look at it considering other things, like how much income people are spending on debt service payments, interest rates and delinquencies.

So, is this record pileup of credit card debt a big deal? Let us look at some numbers.

Timecodes
0:00 Video Introduction
0:38 Household Income towards Consumer Debt
2:20 Credit Card Utilization Rate
4:25 Americans Find it Harder to Pay off Credit Card Debt

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