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via finance.yahoo.comEconomy

US credit card debt hits record $1.29 trillion in third quarter

FROM THE WIRE · FINANCE.YAHOO.COM

Investing.com -- Credit card balances in the United States rose by $22 billion in the third quarter to reach a record $1.29 trillion, according to the Federal Reserve Bank of New York's household debt report released today. The balances increased 4.2% compared to the same period…

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MARKET IMPACTNEUTRAL✦ News Impact agent estimateTone: expected bearishRecord household debt signals financial strain and could weigh on consumer spending.AI-generated summary
✦ IN BRIEF · AIAI-generated summary
  1. 01Credit card balances rose by 22 billion dollars in the third quarter.
  2. 02Total household debt grew by 334 billion dollars to a record 19.1 trillion.
  3. 03Credit card debt increased 4.2 percent compared with the same period last year.
NEWS IMPACT AND MARKET REACTIONChange from the reference price
Mastercard IncorporatedMAStock660.31 USD-0.04%today +0.69%Neutral Visa Inc.VStock424.03 USD-0.07%today +0.63%Neutral LendingTree, Inc.TREEStock35.17 USD-0.32%today -3.63%Negative
Impact and summary are estimates by the News Impact AI agent, not financial advice.Open in Markets

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