A record number of Americans are only making their minimum credit card payment

Quick Summary:

Consumer sentiment has fallen more over the last three months than during the 2008 financial crisis.

A similar trend has played out with mortgages, with the 90th percentile of loans on bank balance sheets growing twice as fast as the median since the final quarter of 2019.

The Philly Fed found firms gave the 90th percentile of borrowers their third-largest boost to card limits over the last 12 years.

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Article Details

Author / Journalist: Greg McKenna

Category: EconomyBusiness

Markets: United States

Topics: Credit cards Recession Tariffs and trade Donald Trump Inflation Taxes

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-04-29 @ 12:07:00 (18 hours ago)

News Timezone: GMT +8:00

News Source URL: fortune.com

Language: English

Article Length: 764 words

Reading Time: 5 minutes read

Sentences: 4 lines

Sentence Length: 191 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Fortune

News ID: 28285713

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About Fortune

Main Topics: EconomyBusiness

Official Website: fortune.com

Update Frequency: 59 posts per day

Year Established: 1929

Headquarters: United States

News Last Updated: 9 hours ago

Coverage Areas: United States

Ownership: Independent Company

Publication Timezone: GMT +8:00

Content Availability: Worldwide

News Language: English

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Website Security: Secure (HTTPS)

Publisher ID: #95

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