Revelation 13:16-18 “Also it causes all, both small and great, both rich and poor, both free and slave, to be marked on the right hand or the forehead, so that no one can buy or sell unless he has the mark, that is, the name of the beast or the number of its name. This calls for wisdom: let the one who has understanding calculate the number of the beast, for it is the number of a man, and his number is 666.”
Important Takeaways:
- 56 million Americans have been in credit card debt for at least a year. ‘We are seeing pockets of trouble,’ expert says
- Americans are increasingly leaning on their credit cards.
- Altogether, card balances now total $1.08 trillion, according to the latest quarterly report from the Federal Reserve Bank of New York, a new record.
- “Over the past two years, Americans’ credit card balances have skyrocketed 40%,” said Ted Rossman, senior industry analyst at Bankrate.
- Nearly half, or 49%, of credit card holders carry debt from month to month on at least one card, up from 46% last year, the report found, and 56 million cardholders have been in debt for at least a year.
- The average credit card rate is now more than 20%, on average — an all-time high
- At 20.74%, if you made minimum payments toward the average credit card balance — which is $6,088, according to Transunion — it would take you more than 17 years to pay off the debt and cost you more than $9,072 in interest, Bankrate calculated.
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