Credit Card Balances Are Starting to Come Down
SaverLife member credit card balances came down after a few consecutive months of larger than normal payments.
Members Saving More Than $100 Continue to Drop
The percentage of members depositing $100+ is down since April.
May Savings and Spending
Only 50% of members increased balances in May 2021 as refund and stimulus payments are used to play catch up on everyday expenses.
The Credit Crisis Continues
Credit card balances remain elevated from where they were in 2019—balances are 51% higher in October 2020 than they were in 2019.