The latest figures about consumer borrowing shows one thing is clear: Consumers are getting comfortable taking on more debt.
For now, however, whether that is a good or bad thing isn’t quite known. Either way, credit card companies are seeing sales on credit cards surge, and revolving debt growing — which has also been attributed to banks and issuers pushing cards more and more.
So how do those figures break down? PYMNTS 5-in-1 Daily Data Dive shows just how mounting that credit card debt has become.
$1.02 Trillion | The number of outstanding credit card balances in July 2008.
$1 Trillion | How much outstanding credit card balances are expected to reach this year.
104 Million | The number of general purpose and store credit cards that lenders distributed in 2015.
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47 percent | The percentage spike in general purpose and store credit cards issued in 2015, compared to 2010.
20 percent | The increase in the percentage consumers have spent on their credit cards during the first three months of 2016 compared to last year.
