Americans are ramping up their holiday spending and are increasingly turning to credit cards as a means of payment. Rohit Chopra, director of the Consumer Financial Protection Bureau, said Wednesday that total outstanding credit card debt last year rose above $1 trillion for the first time, and that high interest rates and fees are contributing to the growing debt burden. “Americans…
Master your money.
Subscribe to MarketWatch.
Get this article and all of MarketWatch.
Access from any device. Anywhere. Anytime.
Subscribe Now
Already a subscriber?
Log In
Article Attribution | Read More at Article Source
Americans are ramping up their holiday spending and are increasingly turning to credit cards as a means of payment. Rohit Chopra, director of the Consumer Financial Protection Bureau, said Wednesday that total outstanding credit card debt last year rose above $1 trillion for the first time, and that high interest rates and fees are contributing to the growing debt burden. “Americans…
Master your money.
Subscribe to MarketWatch.
Get this article and all of MarketWatch.
Access from any device. Anywhere. Anytime.
Subscribe Now
Already a subscriber?
Log In
nnDiscussion:nn” ai_name=”RocketNews AI: ” start_sentence=”Can I tell you more about this article?” text_input_placeholder=”Type ‘Yes'”]