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How to Manage , Mounting Nationwide , Credit Card Debt .<br/>According to TransUnion data, the average <br/>credit card debt per borrower in the United States <br/>has increased 8.5% year-over-year, reaching $6,218. .<br/>The added pressure on consumers has made <br/>it even more difficult to pay down their debts. .<br/>Yahoo Finance recently sought expert advice <br/>for insights into how Americans can manage <br/>amid the current levels of credit card debt.<br/>Discover Personal Loans Vice <br/>President Dan Nickele highlights the debt <br/>management benefits of personal loans.<br/>One of the great things <br/>about a personal loan is <br/>that you can check your <br/>rate without impacting your <br/>credit report, so you can <br/>explore your options. , Dan Nickele, Discover Personal Loans <br/>Vice President, via Yahoo Finance.<br/>And I think options are a consumer's <br/>best friend, especially somebody <br/>who's trying to manage their debt. , Dan Nickele, Discover Personal Loans <br/>Vice President, via Yahoo Finance.<br/>So I would encourage somebody <br/>who thinks they might have a savings <br/>opportunity to go out and figure out <br/>what rates they can actually earn, <br/>explore their options for <br/>payments and rates, Dan Nickele, Discover Personal Loans Vice President, via Yahoo Finance.<br/>Yahoo Finance points out that while the pace <br/>of inflation showing signs of moderating, consumers <br/>are still facing increased pressure on their budgets.<br/>At the same time, Bank of America's annual Homebuyer <br/>Insights Report found that 72% of potential homebuyers <br/>are concerned about ongoing rent increases. .<br/>A National Institute on Retirement Security <br/>also found that 79% of Americans expressed<br/>pessimism amid a retirement savings crisis
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In October of 2023, thousands of debit and credit card users across the country experienced duplication in their payments that were made between the months of August and September of that year.<br/><br/><br/>At a Joint Select Committee on Finance and Legal Affairs held on Friday, TV6 News posed the question to the Bankers Association of T&T, as to exactly what caused the problem and what measures have been implemented to prevent it from reoccurring.<br/><br/>
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Credit Card Delinquencies , Are on the Rise.<br/>New York Federal Reserve data that was published on May 15 shows that credit card delinquencies kept rising from January to March, Fox Business reports. .<br/>In Q1 2024, delinquencies reached <br/>8.9% at an annualized rate.<br/>America hasn't seen this high of a <br/>percentage of serious credit card <br/>delinquencies since 2012, Fox News reports. .<br/>In the first quarter of 2024, credit <br/>card and auto loan transition rates <br/>into serious delinquency continued <br/>to rise across all age groups, Joelle Scally, regional economic principal within the Household and <br/>Public Policy Research Division at the New York Fed, via Fox Business.<br/>An increasing number of borrowers <br/>missed credit card payments, <br/>revealing worsening financial <br/>distress among some households, Joelle Scally, regional economic principal within the Household and <br/>Public Policy Research Division at the New York Fed, via Fox Business.<br/>Researchers aren't sure why delinquencies <br/>are so high since the unemployment rate <br/>is low, but they have a few theories.<br/>One of those theories is that consumers drained savings throughout the pandemic <br/>but continue to spend at high levels.<br/>Another theory is that some Americans switched to jobs with lower salaries.<br/>Additionally, credit card eligibility may have been expanded for many whose student debt wasn't being reported to credit bureaus amid the pandemic.<br/>These are all kinds of complex issues. <br/>We don't exactly know what's behind the <br/>increase of these delinquency rates. But it's <br/>definitely something that we're tracking, New York Fed researchers, via Fox Business.<br/>The average annual percentage rate for <br/>credit cards hit a record of 20.72% recently.
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Home Prices Dip , as Homebuyers Show , Dwindling Interest.<br/>'Newsweek' reports that home sellers <br/>have started to cut prices in an effort <br/>to attract buyers amid lagging demand.<br/>According to a recent analysis by Zillow, <br/>price reductions increased by more than 22%, <br/>reaching the highest rate in the last six years.<br/>Zillow suggests that the price cuts <br/>could indicate dwindling demand.<br/>Price cuts can be a sign <br/>of weakening demand <br/>that foretells softer <br/>price growth ahead, Skylar Olsen, chief economist of Zillow, via 'Newsweek'.<br/>Potential homebuyers may start to see <br/>a market with more options, with the <br/>supply of homes jumping 6.4% in April. .<br/>On an annual basis, the supply of <br/>properties on the market skyrocketed 18%.<br/>According to Skylar Olsen, the chief economist <br/>of Zillow, this represents the \
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