American credit card debts hit a record high

Фото: Depositphotos

In June, 2017, credit card debt in the United States exceeded one trillion dollars, breaking the previous record recorded before the 2008 economic crisis of the year.

The total debt of Americans amounted to 1,2 trillion dollars, reports Bloomberg, with reference to data from the Federal Reserve.

Largest lenders including Citigroup and JPMorgan Chase, seek to increase the number of card holders by lowering interest rates and bonuses, which attract more and more customers.

The banks hope that, unlike in 2008, this time everything will not end with a crisis. 9 years ago, falling home prices in the United States led to a global financial crisis. After rising unemployment to 10%, banks over the next two years wrote off more than 100 billions of dollars in credit card debt.

At the same time, investors have attended to the fact that after exceeding the mark of debts in 1 trillion dollars the risk of economic default will constantly increase.

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