Credit Card, Personal Loan Balances Hit Record Highs Amid Soaring Inflation, Rising Rates

As consumers grapple with surging inflation and rising involvement rates, much Americans are taking connected other indebtedness to mitigate household fiscal pressures, a caller report found. According to TransUnion’s Q3 2022 Quarterly Credit Industry Insights Report (CIIR), recognition paper balances precocious 19 percent twelvemonth implicit twelvemonth successful the 3rd quarter, to an all-time precocious of $866 billion. The maturation was driven heavy by Genera...