The Effects of Credit Card Delinquencies on the Overall Finance Industry

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Chief Investment Officer at AWAIM® and bestselling author Ivan Illan highlights the growing concern of ballooning credit card balances in the U.S., which have surpassed $1.13 trillion. The average credit card interest rate is currently at 24.37%, leading to a rise in delinquency rates on credit card payments. Americans, having spent a significant portion of pandemic-era stimulus money, are now facing higher debt levels as they continue their elevated consumption habits. Illan points to a behavioral economic condition triggered by pandemic shutdowns, where consumers engaged in a 'revenge spending spree' post-lockdown, leading to a surge in personal debt. Finance professionals are urged to be conscious of the impact on corporate treasury and market yields as risk assessments on the U.S. economy evolve.

https://globeecho.com/the-effects-of-credit-card-delinquencies-on-the-overall-finance-industry/