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Chart of the Day: Pandemic Credit Card Usage

Samuel A. Kiburz, Senior Vice President, Chief Investment Officer Jul 5, 2023

Contents

Today’s Chart of the Day from @CharlieBiello on Twitter shows the annual change in credit card balances dating back to 2000. The latest data shows a 17.2% increase, nearing the record set in 2001 at 18.9%. This is another unintended consequence of the COVID-19 pandemic response.

The chart below shows the percentage of credit card debt compared to total assets. As shown, even though it is growing, it is good news that people do not use credit cards as much as they have in the past.

Pandemic Credit Card Usage 2

 
Chart of the Day

About the Author

Samuel A. Kiburz, Senior Vice President, Chief Investment Officer
Samuel A. Kiburz, Senior Vice President, Chief Investment Officer

Samuel serves as Senior Vice President, Chief Investment Officer for the Crews family of banks. He manages the individual investment holdings of his clients, including individuals, families, foundations, and institutions throughout the State of Florida. Samuel has been involved in banking since 1996 and has more than 20 years experience working in wealth management.

Investments are not a deposit or other obligation of, or guaranteed by, the bank, are not FDIC insured, not insured by any federal government agency, and are subject to investment risks, including possible loss of principal.

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