Credit card debt surges in U.S. as high interest rates make it harder to pay off

Americans owe more than a trillion dollars in credit card debt, up 60% from just five years ago. Meanwhile, higher interest rates make debt even more difficult to pay off, a downward spiral causing credit card delinquencies to surge. Economics correspondent Paul Solman explains.

Credit card balances are ticking higher mid-way through the year, according to a new report on household debt from the Federal Reserve Bank of New York.

It’s vital to know how much your debt is costing you monthly - then work out the best way to pay that down

LA PAZ, Aug 11 - Just nine months after taking office as Bolivia's president amid a broader rightward shift in Latin America, Rodrigo Paz faces an uphill battle in winning backing for a package of market-oriented reforms even as his governing coalition fractures.

A rise in home equity to record levels has led many Americans to refinance their mortgages to pay their bills.

Spending in South Korea via cards issued overseas has risen nearly tenfold over the past three and a half years, according to a report released Tuesday. The report by Korea Credit Data shows that the monthly index for overseas card sales reached 960 in June, an increase of 9.6 times the 100 recorded in January 2023. Th

For a traveller who knows roughly how much money they will need, a prepaid forex card can make budgeting easier.

Deal between Labor and the Coalition is expected within days. Follow today’s news live Get our breaking news email, free app or daily news podcast Ted O’Brien says that just because the Japanese government has downplayed melon-gate, doesn’t mean Anthony Albanese’s gaffe isn’t a “national embarrassment”. We’ve seen re

Earlier this month, a gambling trade publication accused me of carrying out a “scattergun attack on industry to…

Presidential candidate of the People's Redemption Party (PRP) for the 2027 general election, Donald Duke, has called for a comprehensive overhaul of Nigeria's financial architecture, warning that high interest rates, rising public debt and misplaced government spending are crippling businesses and slowing economic grow