Credit card balances by age group

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Credit card balances by age group
The average American has $5,733 in credit card debt according to TransUnion.
Within the age bracket of 18 to 29, there is an average of $2,900 in credit card debt.
The average credit card balance has increased by 14.4% over the last year.
We are in a dire economic climate despite what people will tell you. Inflation remains stubbornly high and interest rates have risen shaprely. Americans are increasingly turning towards credit cards to keep up with expense. There are record high balances on credit cards at this point.
Works Cited:
https://www.cnbc.com/2023/06/09/how-much-credit-card-debt-americans-hold-by-age.html
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