💳 When was the last time you checked the interest rate on your credit cards? In May, average U.S. credit card interest rates clocked in at 16.41%, 17.01% in July and 17.67% in August. Read more in LaurenYoung's LinkedIn newsletter 👉
For months, things have been looking good for U.S. consumers, their bank accounts padded by government stimulus, student loan forbearance and pandemic-era savings.
Bank executives have consistently said consumers have healthy financial cushions and are spending money despite high inflation and the slowing economy. Now there are signs that some Americans have overextended their finances from traveling and dining out while paying down less debt on their credit cards, said
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