The New CS Board

[jumanji0881]

70% Of Consumers With Credit Cards Say They Can't Pay It Off This Year : https://www.zerohedge.com/news/2019-03-20/70-consumers-credit-cards-say-they-cant-pay-it-year

My Comment : Just wait till the recession. CC debt will be defaulted on and the CC companies will take a big hit.

Excerpts:
Zerohedge readers who follow our monthly consumer credit updates already knew, aggregate household debt balances jumped in 4Q18. As of late December, total household indebtedness was at a staggering $13.54 trillion, $32 billion higher than 3Q18.

More troubling is that 37 million Americans had a 90-day delinquent strike added to their credit report last quarter, an increase of two million from the fourth quarter of 2017. These 37 million delinquent accounts held roughly $68 billion in debt, or roughly the market cap of BlackRock, Inc.

Multiple reports show the consumer is on the cusp of a dangerous deleveraging, an ominous sign that the credit cycle has likely turned. Winter is here.