Graph of total US credit card debt, notice the spike over the last few months?

submitted by magnora7 from (lendingtree.com)

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[–]magnora7[S] 4 insightful - 1 fun4 insightful - 0 fun5 insightful - 1 fun -  (0 children)

Good observation. To that effect, look at the delinqunicy rate from the article where I got the OP graph: https://www.lendingtree.com/credit-cards/credit-card-debt-statistics/

It shows that the delinquency rates are very low right now, but the debt is very high. So everyone has taken out massive credit card debt, but it hasn't come due yet.

So 60-120 days from now we could be seeing large amounts of delinquency, and then it might get bad like you say. They already cut EBT a few months ago pretty drastically, ending all the covid bonuses.