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Credit Card Debt Climbing Once Again for U.S. Consumers

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American consumers are returning to bad habits when it comes to credit card debt. According to a recent study by the personal finance website WalletHub, consumers added about $13 billion in new debt in the first quarter of this year. Analyst Jill Gonzalez says Americans paid 66% less this year on debt during that time than usual. That heavier debt load will cost more, especially in light of more expected interest rate hikes by the Federal Reserve.

Credit Card Debt Study

Fed Rate Hike Impact