We recently posted about record mortgage debt reaching levels not seen since 2008. With that in mind, we’ve came across data from howmuch.net showing America’s credit card debt by state. According to their research, total private and public debt hit an all-time high of over $70 trillion – which the say is being fueled by credit card debt. But where is all this debt?
“Despite overall low interest rates, credit card rates have hit a 25-year high, with average interest rates at 17%. At the same time, total consumer debt in the exceeded $4 trillion for the first time, a figure which includes credit card debt.”