The average credit card debt per borrower has increased by 8.5% year over year to $6,218, TransUnion finds. With consumers under pressure, it can be...
The average credit card debt per borrower has increased by 8.5% year over year to $6,218, TransUnion finds. With consumers under pressure, it can be difficult to find wiggle room in budgets to pay down credit card debt .
One area that this is showing up in credit card debt where the average debt per borrower $6218 that you're seeing it on screen up 8.5% from last year 2023 according to Transunion, for more on how consumers are dealing with their debt.What are some of the leading leading factors that you can point back to?Um Discover personal loans did a survey last year and the top top reason for for consumers feeling stress was inflation 58%.
So there's an opportunity for substantial savings if somebody has great credit and they can roll that, that higher cost debt into something with a lower fixed rate payment. So I would encourage somebody who thinks they might have a savings opportunity to go out and figure out what rates they can actually earn, explore their options for payments and rates.
Um So what I would suggest is going out there exploring all options, having a good strategy to manage the, the the spending is of course, top of mind. Now to what we're hearing from some of the retail CFO S and, and C Suite saying that the consumer is relatively stable here.From the discover perspective?
Transunion Debt Management Personal Loans Discover Personal Loans Vice President Dan Nickel Credit Report
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