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CNBC: ‘Total Household Debt Is Now at a Record High’ and Current Average Credit Card APR Is 18.16%, its ‘Highest Since 1995’

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Date
09/26/2022
Summary
CNBC: ‘Total Household Debt Is Now at a Record High’ and Current Average Credit Card APR Is 18.16%, its ‘Highest Since 1995’
Source
CNBC

Name: CNBC

URL: http://www.cnbc.com/

Show
The Exchange

Name: The Exchange

URL: https://www.cnbc.com/the-exchange/

Persons
Brian Sullivan

Name: Brian Sullivan

Employment: CNBC

Position: Journalist

Event
–
Event location
–
Link
–
Original recording
The Exchange
Uploaded
09/26/2022 01:35 pm
Owner
Member deleted, inactive, or not public
Type
Video
Format
MP4 (1280x720) Use clipper to adjust file type
Duration
0:00:44
Views
13
Purchases
4
Social views
0
Transcript
SULLIVAN Do not underestimate ░░░░░░░░ massive impact that rising ░░░░░░░░ may have on American ░░░░░░░░ and family balance sheets ░░░░░░░░ to the New York ░░░░░░░░ Reserve total household debt ░░░░░░░░ now at a record ░░░░░░░░ of more than 16 ░░░░░░░░ trillion A lot of ░░░░░░░░ is housing but it ░░░░░░░░ includes a whopping 890 ░░░░░░░░ in credit card debt ░░░░░░░░ And much of the ░░░░░░░░ debt is on a ░░░░░░░░ rate meaning it will ░░░░░░░░ up as rates go ░░░░░░░░ And has been Listen ░░░░░░░░ this According to Bankrate ░░░░░░░░ current average credit card ░░░░░░░░ stands at 18 1 ░░░░░░░░ That is the highest ░░░░░░░░ 1995 And with red ░░░░░░░░ inflation making many essentials ░░░░░░░░ expensive than ever already ░░░░░░░░ does this mean for ░░░░░░░░ state of our debt?”
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