Can Low Credit Card Balances Save Holiday Spending? Don’t Bet On It
PYMNTS
NOVEMBER 16, 2020
They have paid down their credit cards. The main one centers on the drop in credit card spend. A new report from TransUnion shows that average consumer-level credit card balances have declined during the course of the COVID-19 pandemic and now stand at $5,075 as of Q3 2020, down from $5,668 in Q3 2019.
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