Data Point - Credit Card Usage Soaring. - Granite Grok

Data Point – Credit Card Usage Soaring.

Emphasis mine:

The first three quarters of 2022 have seen a rapid increase in credit card balances, after they contracted sharply during the early part of the COVID pandemic. The chart below depicts the year-over-year percent change in credit card balances—the 15 percent increase seen in the third quarter of 2022 towers over the last eighteen years of data.

 

US Credit card debtNew York Feds Consumer Credit Panel Equifax

 

For some added context:

Total US Debt NY Federal Reserve

(H/T: NY Federal Reserve via UnusualWhales)

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