Rate hikes, high credit card usage and rising costs across the country: Many are speculating that the US is bound for a recession. Here are a few things can you do to protect yourself should recession hit.
TUCSON, Ariz. — The Fed's recent rates increase is bringing credit card interest to a record high. According to Bankrate, the average rate hit nearly 18% in August. That's the highest since January 1996.
According to TransUnion, the number of people with credit cards and personal loans hit record highs in the second quarter of 2022, as the total number of credit cards exceeded 500 million for the first time ever, and the balances on those cards jumped 13% during the same timeframe, the largest year-over-year increase in more than 20 years.STAY IN TOUCH WITH US ANYTIME, ANYWHERE
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