36% of Americans owe more than $ 1,200 on average for their holiday purchases, according to a study
Photo: Emily Elconin, Bloomberg LP
This year, Americans rushed to shop for the holidays, even if they could not afford it. According to a study by LendingTree, 36% of buyers in the United States owe an average of $ 1,249, writes CNBC.
(Data) shows that more than 40% of Americans have benefited from the scheme. buy now, pay later “, which is gaining popularity along with online shopping. This option usually does not charge interest due to deferred payment, but sometimes consumers may owe additional fees or penalties if the payment deadline is missed.
(This) type of shopping makes people spend more than they can afford, analysts warn.
Thus, for some consumers, paying for Christmas presents can be a challenge. 82% of Americans who have accumulated debts on their purchases will not be able to pay them within a month, despite the huge interest rates.
Americans use their credit for their purchases cards, which is the most expensive way of lending – on average interest rates exceed 16 percent, and in the presence of bad loans and more. According to a LendingTree study, about a quarter of Americans have an annual interest rate of between 20% and 29% on their credit cards. About 9% of that percentage exceeds 30 percent.
According to a separate study by TransUnion, Americans’ credit card debt exceeds $ 70 billion at the end of the Christmas holidays. It is expected that the growth trend will increase as US consumption increases
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