While credit card balances edged down in the first quarter, more borrowers still fell behind on their card payments, the Federal Reserve Bank of New York found.
A growing number of Americans are maxed out on their credit cards. Nearly one-fifth of credit card borrowers were using at least 90% of their available credit in the first quarter of 2024.
The average credit card currently charges 20.66% interest on balances, making cards one of the most expensive ways to borrow, according to Bankrate. At the same time, credit card usage is soaring and ...
The report assumes significance as the Reserve Bank of India has been contemplating on setting up a fraud registry to check rising incidents of fraud in the banking sector.(AP) Fraudulent credit ...