Jeffrey M. Rosenblum, P.C.
A Fresh Start

March 2016 Archives

U.S. economists concerned about U.S. consumers increasing reliance on credit cards

With the introduction of major credit card companies like Visa and MasterCard in the mid-1970s, the U.S. public fell in love with the concept of having it now and paying for it later. Since that time, the credit card industry has grown into a multi-billion dollar one, with the average U.S. consumer having four credit cards with an average total household balance of nearly $8,000.