{"id":18796,"date":"2016-03-13T11:59:38","date_gmt":"2016-03-13T16:59:38","guid":{"rendered":"http:\/\/olduvai.ca\/?p=18796"},"modified":"2016-03-13T11:59:38","modified_gmt":"2016-03-13T16:59:38","slug":"credit-card-debt-in-the-united-states-is-approaching-a-trillion-dollars","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=18796","title":{"rendered":"Credit Card Debt In The United States Is Approaching A Trillion Dollars"},"content":{"rendered":"
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Credit Card Debt In The United States Is Approaching A Trillion Dollars<\/a><\/h3>\n<\/div>\n
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\"Credit<\/a>For the first time ever, total credit card debt in the United States is approaching a trillion dollars.\u00a0 Instead of learning painful lessons from the last recession, Americans continue to make the same horrendous financial mistakes over and over again.\u00a0 In fact, U.S. consumers accumulated more new credit card debt during the 4th quarter of 2015 than they did during the years of 2009, 2010 and 2011\u00a0combined<\/strong>.\u00a0 That is absolutely insanity, because other than payday loans, credit card debt is just about the worst kind of debt that consumers could possibly go into.\u00a0 Extremely high rates of interest, combined with severe penalties and fees, can choke the financial life out of almost any family in no time at all.<\/p>\n

These days, most Americans use credit cards for various purposes, and they can be very convenient.<\/p>\n

And if you pay them off every single month, they don\u2019t become a problem.<\/p>\n

Unfortunately, a lot of people are not doing this.\u00a0 According to\u00a0CNBC<\/a>, total U.S. credit card debt rose by an astounding 71 billion dollars last year alone\u2026<\/p>\n

Last year, credit card debt in the U.S. surged by approximately $71 billion to $917.7 billion, according to a\u00a0new study from CardHub.com<\/a>. The research also found that most of the debt accrued in 2015 came in the fourth quarter, when Americans tacked on more than $52 billion.<\/p>\n

\u201cWith 7 of the past 10 quarters reflecting year-over-year regression in consumer performance, evidence is mounting to support the notion that credit card users are reverting to pre-downturn bad habits,\u201d CardHub CEO Odysseas Papadimitriou said in a statement.<\/p><\/blockquote>\n

And as noted above, things were particularly gruesome during the 4th quarter of last year.<\/p>\n

…click on the above link to read the rest of the article…<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Credit Card Debt In The United States Is Approaching A Trillion Dollars For the first time ever, total credit card debt in the United States is approaching a trillion dollars.\u00a0 Instead of learning painful lessons from the last recession, Americans continue to make the same horrendous financial mistakes over and over again.\u00a0 In fact, U.S. […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2],"tags":[12900,12901,10067,12902,12903,5627,195,3461,5983,6061,12904,12905,12906,12907,12908,4901,12909,10475,5950,1264,12910,12911,12912],"class_list":["post-18796","post","type-post","status-publish","format-standard","hentry","category-economics","tag-credit-card","tag-credit-card-companies","tag-credit-card-debt","tag-credit-card-fees","tag-credit-card-penalties","tag-credit-cards","tag-debt","tag-debts","tag-economiccollapseblog","tag-financial","tag-financial-life","tag-financial-mistakes","tag-high-rates-of-interest","tag-how-to-use-credit-cards","tag-interest-on-credit-cards","tag-michael-snyder","tag-new-credit-card-debt","tag-painful","tag-payday-loans","tag-recession","tag-the-worst-kind-of-debt","tag-total-credit-card-debt","tag-u-s-credit-card-debt"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/18796","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=18796"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/18796\/revisions"}],"predecessor-version":[{"id":18797,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/18796\/revisions\/18797"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=18796"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=18796"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=18796"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}