Credit Card Accounts and Loans Are On The Rise- Breaking Down the Transunion Report

Transunion puts out a report each quarter showing stats and trends.... I know... yawn. But it can be very telling to see what kinds of trends are out there with new credit card accounts, balances, and new personal loans. Friends, it looks a little scary to me. Balances are up almost 15%, new cards are up over 20%, and new personal loans are skyrocketing. We know why- the cost of living is out of control, inflation is for real, incomes are not increasing in sync with what it costs to survive. It's a problem and the data is showing what people are doing. We are relying more and more on debt to help make ends meet. But it's going to cost in the form of interest and fees. Slippery slope. [email protected]