The Impact of Visa's Earnings and the Troubling State of Consumer Credit Card Debt in the US
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Visa's impressive earnings growth is overshadowed by troubling consumer credit card debt in the US. Americans' total credit card balance surpassed $1 trillion for the third consecutive quarter, while delinquencies and diverging credit trends continue to rise. The increase in revolving credit raises concerns about rising balances and delinquencies. Credit card delinquency rates reached a record high, and mortgage originations declined. Lower-income borrowers are struggling to keep up with payments, and lenders are tightening lending standards. The rise in subprime borrowers exacerbates the divide in credit scores and could restrict access to affordable credit. Pennsylvania tops the list of states with the highest credit card debt. #Visa #creditcarddebt #delinquencies #consumercredit #subprime #economy...

#newstr #Visa #CreditCardDebt #Delinquencies #ConsumerCredit #InterestRates #Inflation #Economy 

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