How Much Credit Card Debt Does The Average American Hold?
American households owe on average a staggering $16,425 in credit card debt, and that amount has risen 10% since 2013, according to data from the U.S. Census Bureau and the Federal Reserve,. Collectively, we owe nearly $1 trillion on our credit cards, on which we pay an average interest rate of 18.76%, or about $1,292 per household each year. In May 2017, it was found that credit card debt had risen 6% from the previous year and reached an average high that hadn’t been seen since the Great Recession. Nevertheless, more than 60% of American households pay off their credit cards every month or don’t have one at all. Men hold on average thousands of dollars more in credit card debt than woman. Across age groups, the amount of debt steadily rises as people get older until it reaches a peak for individuals between the ages of 35 and 54, but it starts to decline after that. [Bankrate]
Groupon Debuts Groupon+, Voucherless Meal Deals With Visa And Mastercard
Restaurant deals are some of the most popular offers on Groupon. The company is launching a new service to help promote that vertical more. Groupon+, as it is called, will let people use Groupon meal deals that they pay for with their Visa or MasterCard (credit or debit cards), and when they do so, they will get 30% of the value of the deal back to their accounts. Groupon+ will initially be available in 23 U.S. markets and 1,500 participating local restaurants and “other neighborhood favorites.” Groupon plans to expand it to more categories like beauty, retail and home and auto services. [Tech Crunch]
Equifax Reveals Hack That Likely Exposed Data of 143 Million Customers
Equifax Inc, a provider of consumer credit scores, said on Thursday that personal details of as many as 143 million U.S. consumers were accessed by hackers between mid-May and July, in what could be one of the largest data breaches in the United States. Equifax said in a statement that it discovered the breach on July 29. It said criminals exploited a U.S. website application vulnerability to gain access to certain files that included names, Social Security numbers and driver’s license numbers. In addition, credit card numbers of around 209,000 U.S. consumers and certain dispute documents with personal identifying information of around 182,000 U.S. consumers were accessed. [Reuters]
Delta Rolls Out New No-Fee AmEx Amid Hot Airline Credit Card Market
Delta Air Lines is rolling out a new frequent flier credit card with no annual fee, part of an effort to court new customers in the increasingly lucrative market for airline credit cards. The new “Blue Delta SkyMiles Credit Card” is now available, continuing Delta’s long-standing partnership with American Express. Unlike Delta’s other SkyMiles American Express cards, the Blue card will not charge an annual fee. It also will come with a mileage-earning bonus not featured on any of the other Delta cards: double miles on purchases at U.S. restaurants. However, the no-annual-fee Blue card does not include perks common to Delta’s other American Express cards. [USA Today]