US Credit Card Debt Rising at Fastest Rate in 22 Years – The Credit Shifu

by YouTube Team

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US credit card debt has been growing, data for quarter 4 of 2021 shows credit card debt growing at the fastest rate in 22 years! So what is going on? Is this a debt bubble that would lead to the 2022 recession, or is it just a nothing burger?

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34 comments

Jaciel Espinosa-Severo February 18, 2022 - 8:35 pm

First?

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ThemePro February 18, 2022 - 8:36 pm

Wow shocking – not

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Red Sox101 February 18, 2022 - 8:38 pm

It's all these left wing communist leftist that are overspending. Like Biden who is blowing up the national debt

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E92 M3 joeie February 18, 2022 - 8:41 pm

Man I love the shifu videos, thank you for the amazing content:) ♥️

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Brazos River February 18, 2022 - 9:00 pm

Inflation, households must borrow to keep up with rising prices. Expect marriages and births to decrease because couples don’t believe they can afford children.

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Rashod M February 18, 2022 - 9:06 pm

Quarter 4 of 2022?

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Anthony F February 18, 2022 - 9:15 pm

😜 pay in full gang

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FANG February 18, 2022 - 9:42 pm

Good observation man! Idk why all those cripto zombies YouTubers like to talk about some impending market crash that will ruin everything and it never ends up happening

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EKV 12 February 18, 2022 - 9:47 pm

It's all those credit experts that obtained their 1st credit card during the pandemic 🤣

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Chimezie February 18, 2022 - 10:02 pm

i swiped my debit card less than 10 times in 2021.

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CrimsonKnightDX February 18, 2022 - 10:20 pm

Best financial videos on YouTube!

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Terrance Yu February 18, 2022 - 11:04 pm

‘Merica!! 🇺🇸

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OCswimKim3 February 18, 2022 - 11:21 pm

Dave Ramsey is soooo smug hearing this and trying to sell his products.

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Take It Back - Financial February 18, 2022 - 11:28 pm

It's still crazy to think 51% of credit card debt is a carried balance. It's such a difficult hole to crawl out of once you start digging.

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Black Bezos February 18, 2022 - 11:30 pm

What happened to the Credit Shifu name. I was feeling it.

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Neno February 18, 2022 - 11:43 pm

Got 8 credit cards only have 2 balances and paid it off. Use credit cards as a debt card

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va4JuN!ND February 19, 2022 - 12:22 am

Paying 100$ more on formula milk alone compared to aug

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ScH February 19, 2022 - 12:36 am

It would be nice if you were talking about smaller numbers breaking it down to each person so we can compare. When you talking about billions and percents it hard to compare.

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Hunter Buerster February 19, 2022 - 1:03 am

Does all of this data include business credit card debt or is it strictly personal credit card debt?

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J Osorto February 19, 2022 - 3:28 am

Glad I am Not part of that statistic. I use credit cards, credit cards don't use me.

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eddie h February 19, 2022 - 8:12 am

huh !? funny believe current organization / employer is debt free & my current business plan is in pursuit is to get America out of debt & The rest of the world out of Our American pockets 🤓

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Mark Santucci February 19, 2022 - 8:30 am

860 billion dollars that's a lot? so they've only been keeping track since 2000? just like some stats in baseball has only been kept track of the past years or so.

Mortages don't count only credit cards count ?

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Mark Santucci February 19, 2022 - 8:44 am

My only question are these low interest cards like the Chase Slate , Capital one platinum , Citi simplicty or are these credit union cards
store/store credit cards or are they reward card the debt ?

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Andrew Young February 19, 2022 - 12:54 pm

Paid mine off and credit score jumped to 762!

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msj56 February 19, 2022 - 1:23 pm

Been dating someone for a few months and my credit card spending has gone up significantly!

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supremeobliterator February 19, 2022 - 1:49 pm

How about people who have a zero interest period for thier cards. I just got approved for the Citi custome cash and have no interest until April 2023. It doesn't matter if I carry a balance as long as I pay in full by then.

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Jonathan Factor February 20, 2022 - 12:39 am

Great video thanks

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Lindsey Pelas February 20, 2022 - 1:01 am

I make 45k a year and have a 718-720 score on all three bureaus. I have the Discover It Secured card which I graduated to unsecured with a $1800 limit. Then I got a Chase Freedom Unlimited with a $2400 limit. Venture X is my latest and with a 10k limit. I have already received the 300 travel credit and the $200 airbnb credit and am currently on a week Vaca in Puerto Rico. Currently working on the 100k miles sign up bonus. $3500 away from unlocking it. My airport lounge experience already is making the Venture X worth it imo. thank you for putting me on the right path CREDITROYALENET

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Lindsey Pelas February 20, 2022 - 1:02 am

I make 45k a year and have a 718-720 score on all three bureaus. I have the Discover It Secured card which I graduated to unsecured with a $1800 limit. Then I got a Chase Freedom Unlimited with a $2400 limit. Venture X is my latest and with a 10k limit. I have already received the 300 travel credit and the $200 airbnb credit and am currently on a week Vaca in Puerto Rico. Currently working on the 100k miles sign up bonus. $3500 away from unlocking it. My airport lounge experience already is making the Venture X worth it imo. thank you for putting me on the right path CREDITROYALENET

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Steve Hanifff February 20, 2022 - 12:02 pm

credit card debt is a constant thorn, i had help clearing mine with the help of CREDITROYALE NET

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Steve Hanifff February 20, 2022 - 12:04 pm

CREDITROYALE NET is very good at clearing credit card debt

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Lana ray February 20, 2022 - 12:16 pm

Credit scores are relatively meaningless because of the different ways there negatively or positively effected… Lose points for applying for a credit card or loan.. yeah that makes alot of sense.. while at the same time your score isn't positively effected by things like paying your utility bills on time every month..

We're the ones who take this almost meaningless number seriously which in turn gives all the power to these soulless institutions.

Oh and yes I do have a fantastic credit score before you ask.

thanks to CREDITROYALENET

Reply
Lana ray February 20, 2022 - 12:16 pm

Credit scores are relatively meaningless because of the different ways there negatively or positively effected… Lose points for applying for a credit card or loan.. yeah that makes alot of sense.. while at the same time your score isn't positively effected by things like paying your utility bills on time every month..

We're the ones who take this almost meaningless number seriously which in turn gives all the power to these soulless institutions.

Oh and yes I do have a fantastic credit score before you ask.

thanks to CREDITROYALENET

Reply
godwin sylvanus February 21, 2022 - 7:31 am

When it comes to the world of investing, Most people don't know where to start. Fortunately most investors in the past and present can provide us with genuine guidance 27

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