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Stock impact report

Average credit card debt increased 3.5% to $6,730 in 2024 [Yahoo! Finance]

Moody's Corporation (MCO) 
Last moody's corporation earnings: 4/30 07:00 am Check Earnings Report
US:NYSE Investor Relations: ir.moodys.com/home/default.aspx
Company Research Source: Yahoo! Finance
The total amount of consumer credit card debt in the U.S. grew 8.6% to reach $1.16 trillion as of the third quarter (Q3) of 2024, according to Experian data. Among those consumers who carry a balance—revolvers, in industry jargon—the average balance grew 3.5% to reach $6,730 as of Q3 2024. That increase from 2023 marks the slowest annual growth since the start of the pandemic. This pullback in credit card debt growth reflects that more consumers are reining in their spending, with some simply refusing to take on more debt. The current social media trend du jour, broadly termed low-buy or no-buy, has consumers eliminating or greatly reducing nonessential spending. Rising credit card balances may be a big reason why. Credit card issuers are making their own changes as well, says Rakesh Patel, executive vice president for the Experian Consumer Services Marketplace. "With the economic climate, along with rising delinquency and charge-off rates, lenders are taking more of a conserv Show less Read more
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