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Chart of the Day: Pandemic Credit Card Usage

Crews Bank & Trust Wealth Management Services Jul 5, 2023

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Today’s Chart of the Day from @CharlieBiello on Twitter shows the annual change in credit card balances dating back to 2000. The latest data shows a 17.2% increase, nearing the record set in 2001 at 18.9%. This is another unintended consequence of the COVID-19 pandemic response.

The chart below shows the percentage of credit card debt compared to total assets. As shown, even though it is growing, it is good news that people do not use credit cards as much as they have in the past.

Pandemic Credit Card Usage 2

 
Chart of the Day

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Crews Bank & Trust Wealth Management Services
Crews Bank & Trust Wealth Management Services

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