Black Friday is over, but the holiday shopping season is only just begun.
How’s your credit card looking lately? Tired?
The average credit card debt, per borrower, grew by 5 percent in the last quarter, according to TransUnion, a credit monitoring company. That comes to nearly $5,000 of credit card debt per card holder.
So, if your card looks worn out, you’re not alone.
I only got my own credit card just over a year ago. I’m 26. I haven’t reached my limit or missed a payment (knock on wood), but I can say the fear of going over kept me from taking the leap to plastic for years.
If Americans are starting to rely on their credit cards again, is that good or bad? Are there other factors that might paint a broader economic picture?
TransUnion got their numbers by aggregating data anonymously from its 27 million users.