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Americans Once Again Racking up Credit Card Debt

WUGA | By Alexia Ridley
Published April 6, 2022 at 3:32 PM EDT
Major credit card companies say they are phasing out signature requirements starting in April.
Joe Raedle
/
Getty Images
Major credit card companies say they are phasing out signature requirements starting in April.

American consumers have started returning to bad habits. After a record-setting reduction in debt in 2020, consumers added more than $87 billion in new credit card debt last year. The typical annual increase over the past 10 years is just $48 billion. Jill Gonzalez is an analyst with the personal finance website WalletHub. She says the extenuating circumstances during the pandemic did provide some financial benefit.
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Alexia Ridley
Alexia Ridley joined WUGA as Television and Radio News Anchor and Reporter in 2013. When WUGA TV concluded operations, she became the primary Reporter for WUGA Radio. Alexia came to Athens from Macon where she served as the News Director and show host for WGXA TV. She's a career journalist and Savannah native hailing from the University of Michigan. However, Alexia considers herself an honorary UGA DAWG!
See stories by Alexia Ridley