Americans are rapidly shrinking their credit card debt during the pandemic

  • By cvbizz
  • July 9, 2020
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Americans’ credit card debt is shrinking rapidly during the coronavirus pandemic. The amount of consumer revolving credit, which is mostly credit cards, plunged by another $24 billion in May, the Federal Reserve said Wednesday. This costly form of debt is down more than $100 billion since hitting a record high in February and is now below $1 trillion for the first time in nearly three

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