Start clearing credit card debts - interest rates are expected to rise in 2018
Consumers are advised to stop adding to card balance and cut back on spending
Add BT as a preferred source
DeeperDive is a beta AI feature. Refer to full articles for the facts.
New York
NOW that the holiday spending party is over and credit card statements are landing in mailboxes, consumers would be wise to start whittling their balances, financial advisers and analysts say.
Consumers have been spending freely on plastic as the economy motors along. Revolving credit - mostly credit card debt - reached a record US$1.023 trillion in November, the Federal Reserve reported last week.
Share with us your feedback on BT's products and services
TRENDING NOW
Shelving S$5 billion office redevelopment plan proved ‘wise’ as geopolitical risks mount: OCBC chairman
China pips the US if Asean is forced to choose, but analysts warn against reading it like a sports result
Beijing’s calculated silence on the Iran war
Middle East-linked energy supply shocks put Asean Power Grid back in focus
