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

EXCERPT:

SULLIVAN: “According to the New York Federal Reserve, total household debt is now at a record high of more than $16.1 trillion. A lot of that is housing, but it also includes a whopping $890 billion in credit card debt alone. And much of the growing debt is on a variable rate, meaning it will go up as rates go up. And has been. Listen to this. According to Bankrate, the current average credit card APR stands at 18.1 percent. That is the highest since 1995.”