Tags: credit | card | debt

Credit Card Debt Rising Fastest for Seniors

Tuesday, 28 Jul 2009 08:49 AM

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Cash-strapped older Americans are racking up credit card debt faster than other consumers amid dwindling retirement portfolios and rising medical costs, a study shows.

According to USA Today, the study shows that low- and middle-income consumers 65 and older carried $10,235 in average card debt last year, up 26% from 2005. Card debt for all borrowers surveyed rose 3% during that time, to $9,827.

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