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This Week In Credit Card News: Cardholders Stressed With Rising Balances And Delinquencies

The article from Forbes, published on January 23, 2025, discusses the increasing stress among credit card holders due to rising balances and delinquencies. It highlights that despite a robust economy, many Americans are struggling with credit card debt, with the average balance reaching new highs. The piece notes a significant uptick in delinquency rates, particularly among younger consumers, as they face challenges with managing their finances amidst rising costs of living. Additionally, the article touches on the Federal Reserve's decision to keep interest rates steady, which does not alleviate the burden of high credit card interest rates. It also mentions strategies some consumers are adopting, like balance transfers to cards with 0% introductory APR offers, to manage their debt more effectively. The overall tone suggests a growing concern over financial stability for many, despite economic growth indicators.

Read the Full Forbes Article at:
[ https://www.forbes.com/sites/billhardekopf/2025/01/23/this-week-in-credit-card-news-cardholders-stressed-with-rising-balances-and-delinquencies/ ]