It’s not just the just United States debt reaching an all-time high, individual credit card debt is also breaking new records in 2019. With credit card debt mounting, and a potential economic recession looming on the horizon, should crypto investors really be buying Bitcoin with their credit cards?
Those that have already loaded up on crypto with their credit cards during the 2017 bull run may be sorely regretting it now that Bitcoin has repeatedly painted new lows since.
American Credit Card Debt Reaches New High, Average of $6,375 Per Person
While Bitcoin may be hitting new lows, American credit card is reaching new highs. According to new data, American credit card debt is up 3% year-over-year, with the average individual wracking up a balance of $6,375 in debt.
The Federal Reserve says that total credit card debt hit $1 trillion in 2017, the highest ever on record.
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