Credit Card Update: Rates Up, Outstandings Surge, Households Broke

Fact is 58% of Americans have less than $1,000 in savings. Large swaths of the American population are at the edge of trouble: “27% of adults would need to borrow or sell something to pay for an unexpected expense of $400. One quarter of adults have no retirement savings, and skipped necessary medical care in 2018 because they were unable to afford the cost”.