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Study: Consumers Reach For Plastic In Q2

Sep 13, 2011 | Reprints | Unlock Link | Print

American consumers racked up $18.4 billion in credit card debt during the second quarter, according to CardHub.com’s Q2 2011 Credit Card Debt Study.

That’s an increase of 66 percent over the same period a year ago and an increase of 368 percent over the same period in 2009.

Compared to the first quarter, outstanding credit card debt increased $7.6 billion.

CardHub said consumers virtually erased substantial declines in credit card debt achieved in the previous year.

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