Growing Credit Card Debt: A Warning Sign for Investors The four largest U.S. banks have reported a significant increase in credit card expenditures in 2023, continuing an upward trajectory that began in 2020. Notably, JPMorgan Chase observed a 9% increase in credit card spending, reaching $1.2 trillion. This trend is mirrored at other major banks like Wells Fargo, with a 15% rise. More concerning is the growing trend of delayed repayments, as indicated by a 14% jump in unpaid balances at JPMorgan and a 9% increase at Bank of America. These patterns, coupled with rising delinquency rates since 2021, signal potential economic pressures and the need for prudent financial strategies in the years ahead. « Previous Article Next Article » Share This Article Choose Your Platform: Facebook Twitter Google Plus Linkedin Related Posts China Megabanks Kick Off $8.3 Billion Loss-Absorbing Bond Sales READ MORE How & Where to Buy Gold Bars [Complete Guide] READ MORE Has pay kept up with inflation? READ MORE A Closer Look at HSBC’s New Gold Token READ MORE Add a Comment Cancel replyYour email address will not be published. Required fields are marked *Name * Email * Save my name, email, and website in this browser for the next time I comment. Comment