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U.S. credit card debt reaches $1.3 trillion at 21 percent average rate, Reformed Trader notes

U.S. credit card debt reaches $1.3 trillion at 21 percent average rate, Reformed Trader notes
U.S. credit card debt hits record

Reformed Trader, industry influencer, highlights that total U.S. credit card debt has reached a record $1.3 trillion. The average interest rate on these debts stands at 21 percent.

According to Reformed Trader, this level of consumer debt is a major concern and is described as the number one wealth killer in America.

Peter Mallouk has previously emphasized the importance of shareholder composure during downturns, stating that reacting calmly to 50 percent market declines is essential. He has also noted that the S&P 500 gained over 1,200 percent with dividends since March 2009, despite experiencing 32 corrections during that period. Mallouk’s comments frequently address the challenges and resilience faced by U.S. investors.

This material may contain third-party opinions, none of the data and information on this webpage constitutes investment advice according to our Disclaimer. While we adhere to strict Editorial Integrity, this post may contain references to products from our partners.

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