Americans must be using the federal government as an example to emulate.
U.S. consumers have started to return to bad habits when it comes to credit card debt, following a record-setting reduction in 2020 that continued into the first quarter of 2021. During Q2 2021, consumers added $45.7 billion to their tab – an all-time record that nearly wiped out the first-quarter paydown. Furthermore, WalletHub now projects that consumers will end the year with a net addition of $100 billion in credit card debt, which far exceeds the 10-year average of $45.6 billion.
QUINNSCOMMENTARY 
I know plenty of people who just cannot wait until they save up the cash to make a purchase. They never tell themselves or their kids NO, we cannot afford it. I said NO, to my 4 kids all the time. They are now age 30, 36, 41, & 43, all with zero credit card debt. I use credit cards all the time and never pay interest. I have received over $500 in cash back so far this year. I have 3 cards that have zero interest for 18 months and the cards will be paid off before any interest will be charged. I love using the banks money and getting paid to do it. I almost never pay cash for anything, why would I, when the banks are willing to pay me 1 to 5 percent on purchases, that I make each month, anyway. I just made my minimum payment on my BoA credit card with my cash back. No worries because my BoA credit card is zero interest until Oct 2022. IMO – Interest should only be paid on a car or house, the way it was 50 years ago. I did not get my first credit card until I was 30 in 1986, the biggest financial mistake of my life.
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Are people who pay off balances each month filtered out of these statistics?
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Yes, this is carrying debt only.
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I wonder how much of the carried debt is at zero interest. I am currently carrying $3,000 @ zero interest, until Oct 2022. With zero interest offers filling my mail box every week, I am sure I am not the only one. I do believe that higher inflation is going to drive credit card debt to all time highs in the next few years.
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Debt addicts were just let out of rehab (stimulus checks) ready to resume their habit.
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but apparently they were not playing their rent, mortgages, or student loans with those stimulus checks.
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“paying”
I wish I could edit here.
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