Will US credit card debt reach $1tr by the end of 2023?
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210Ṁ2227
resolved Aug 12
Resolved
YES

According to LendingTree, as of 17th July 2023, US credit card debt is estimated to be $986 billion.

Will this value reach $1 trillion by the end of 2023, according to LendingTree?

If the data is not updated by Jan 2024, the poll should be extended until it is.

[1] https://www.lendingtree.com/credit-cards/credit-card-debt-statistics/

2023 Credit Card Debt Statistics | LendingTree
Americans’ total credit card balance is $986 billion in the first quarter of 2023, according to the latest data from the Federal Reserve Bank of New York.

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LendingTree has updated—$1.031tr!:

https://www.lendingtree.com/credit-cards/credit-card-debt-statistics/

2023 Credit Card Debt Statistics | LendingTree
Americans’ total credit card balance is $1.031 trillion in the second quarter of 2023, according to the latest data from the Federal Reserve Bank of New York.
predictedYES

@ByrneHobart cheers for the heads-up, congrats on the profits

FRED has it at just over $1tr, that’s the source for the personal finance sites.

https://fred.stlouisfed.org/series/CCLACBW027SBOG

Consumer Loans: Credit Cards and Other Revolving Plans, All Commercial Banks
Graph and download economic data for Consumer Loans: Credit Cards and Other Revolving Plans, All Commercial Banks (CCLACBW027SBOG) from 2000-06-28 to 2023-07-26 about revolving, credit cards, loans, consumer, banks, depository institutions, and USA.
predictedYES

Await update from lendingtree

https://unusualwhales.com/news/us-credit-card-debt-has-now-passed-1-trillion

US credit card debt has now passed $1 trillion
US credit card debt has now passed $1 trillion. Meanwhile, Gen X has the highest average credit card debt of any generation group, estimated to be $8,266, per Bloomberg. Gen Z had an average credit card debt of $2,781 in Q4 of 2022, marking a 5.90% jump from the three months through May, the biggest increase compared to all other generations. Per Bloomberg: In the third quarter of 2022, US household debt climbed at the fastest annual pace since 2008 in the third quarter, with credit-card

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