Report: Americans Stuck In Increasing Credit Card Debt
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PHILADELPHIA (CBS) — It appears Americans are addicted to spending on their credit cards.
A new report says that many of the nation's citizens are mired in debt.
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Credit card balances grew seven-percent during the first three months of this year, according to Experian.
Credit Card Debt Is Highest and Lowest in These States https://t.co/Sm5hQOYtox @Experian_US pic.twitter.com/UKVA4TmXVe
— Experian #StaySafe (@Experian) August 8, 2018
The report compared current credit card debt against the debt held by Americans at the same time last year.
Total balances rose to $764-billion.
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Spenders in some states are piling on more debt than others with Florida and Nevada leading the way.
Maine and Vermont experienced the least credit card debt growth.