Credit Card Debt Surpasses Record $1 Trillion In The Fourth Quarter

More American consumers are reaching for the plastic in their wallets helping to push outstanding credit card debt past the $1 trillion mark in the fourth quarter, according to a WalletHub study of Federal Reserve data.

Economists aren’t concerned with the rising credit card debt given the strength supporting the customer behavior. Despite volatility in the equity markets of late, unemployment remains low, housing prices are rising and corporate earnings also represent solid financial footing for many sectors of the economy.

Consumer sentiment rose last month to its second highest level since 2004 because of their take on the economy.   MORE

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