​Consumers Crack: Credit Card Debt Suddenly Plunges Most Since Covid As APRs Hit Record High – Tyler Durden

Consumers Crack: Credit Card Debt Suddenly Plunges Most Since Covid As APRs Hit Record High Last month, we – and many others – were stunned when after several months of progressively declining revolving credit growth, in July credit card debt unexpectedly soared by the most since January, sending total consumer credit growth surging by just under $27 billion, the single biggest monthly increase since 2022. We called it a “Last Hurrah” moment (literally “In “Last Hurrah”, Credit Card Debt Unexpectedly Soars Despite Record High APRs As Savings Rate Hits Record Low”) and said that “with consumers ever more strapped for…  — Continue at ZeroHedge News : Read More