Consumers Taking On More Credit Card Debt

“CardHub.com, an online credit card resource, reports consumers piled on $16.8 billion in credit card debt in the third quarter of 2011, up 154 percent from the same quarter last year. The news comes on the heels of a report by First Data that credit card spending in the U.S. rose in the first three quarters of the year. The Great Recession may have promoted many consumers to put away their plastic for a while, but they are apparently spending again, with a vengeance.”

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