Consumers cut credit payments, struggle to pay bills
Consumers are dramatically scaling back how much of their credit card balances they pay each month. Data released this month show that the credit card payment rate — the percentage of outstanding card debt paid — fell by 2.5 percentage points to 16.1%. The drop in November, the latest month available, is among the largest on record, according to CardTrak.com, a credit card research firm. Full Story »
Posted by Derek Hawkins
