Credit Card Balances 32% Higher Than This Time Last Year

Despite the receipt of stimulus payments and tax refunds, credit card balances remain largely unchanged from March and only 6% higher than the six month trailing average, indicating that perhaps funds were used for more pressing concerns than just credit card debt, such as utilities, medical debt, or housing costs.

We may also not see the impacts of recent payments until next month.

4_SaverLife_ResearchInfographics-diego_Credit Card Balances Remain Elevated - April.png
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April Saving & Spending: A Month of Catch Up