Holiday Spending To Hit Record, Despite Rising Credit Card Debt Levels

Holiday spending in the U.S. is set to reach record levels despite record-breaking credit card debt. The National Retail Federation estimates spending during the holiday season will total over $900 billion, driven by wage gains, modest inflation, and consumer confidence. LendingTree reports that over a third of shoppers incurred an average of more than $1,100 in holiday debt, up from last year. With average credit card interest rates exceeding 20%, paying off debt could stretch well into 2025, impacting financial goals and necessities.

Holiday Spending To Hit Record, Despite Rising Credit Card Debt Levels

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Holiday Spending To Hit Record, Despite Rising Credit Card Debt Levels

Description

Related Videos

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Retail Sales Rise 0.6% in December as Consumers Increase Holiday Spending, But Economic Challenges Loom

61 Percent of People Are Willing to Fall Deeper Into Debt for Holiday Spending, Survey Says

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