Nick Wolney

Right? That's what I thought. Like, don't flash your platinum Amex to me. And so that's kind of interesting for them as well. It's like the social clout of having the platinum Amex is worth the $695 annual fee. to that. But if you look at the total credit card debt in America, it's just gone up and up and up and up and up. We had two corrections.

Right? That's what I thought. Like, don't flash your platinum Amex to me. And so that's kind of interesting for them as well. It's like the social clout of having the platinum Amex is worth the $695 annual fee. to that. But if you look at the total credit card debt in America, it's just gone up and up and up and up and up. We had two corrections.

We had a correction in the housing crisis, and then we also had a correction during COVID where people were like, oh crap, I better pay this down in case I lose my job. And so we did see corrections there, but otherwise we have seen that number steadily go up. Another reason we're trying to sound the alarm now is that people are really struggling right now

We had a correction in the housing crisis, and then we also had a correction during COVID where people were like, oh crap, I better pay this down in case I lose my job. And so we did see corrections there, but otherwise we have seen that number steadily go up. Another reason we're trying to sound the alarm now is that people are really struggling right now

We had a correction in the housing crisis, and then we also had a correction during COVID where people were like, oh crap, I better pay this down in case I lose my job. And so we did see corrections there, but otherwise we have seen that number steadily go up. Another reason we're trying to sound the alarm now is that people are really struggling right now

Historically in Q1 of each year, we see a little bit of a payoff. People come off the holidays. They're like, oh God, what have I done? And they're actually responsible. There's some of that new year's resolution energy as well. People tend to pay down some of the balance. So we usually see a dimple in that line graph.

Historically in Q1 of each year, we see a little bit of a payoff. People come off the holidays. They're like, oh God, what have I done? And they're actually responsible. There's some of that new year's resolution energy as well. People tend to pay down some of the balance. So we usually see a dimple in that line graph.

Historically in Q1 of each year, we see a little bit of a payoff. People come off the holidays. They're like, oh God, what have I done? And they're actually responsible. There's some of that new year's resolution energy as well. People tend to pay down some of the balance. So we usually see a dimple in that line graph.

And for the last two years, so Q1 of 2023 and this Q1 as well, people didn't really do that. So even most recently, we went from $1.13 trillion to $1.12 trillion. And this is the quarter where people are supposed to be really making a dent and paying down their balances.

And for the last two years, so Q1 of 2023 and this Q1 as well, people didn't really do that. So even most recently, we went from $1.13 trillion to $1.12 trillion. And this is the quarter where people are supposed to be really making a dent and paying down their balances.

And for the last two years, so Q1 of 2023 and this Q1 as well, people didn't really do that. So even most recently, we went from $1.13 trillion to $1.12 trillion. And this is the quarter where people are supposed to be really making a dent and paying down their balances.

So it's concerning to some economists that people are not following that usual behavior, that people are actually needing their credit card in order to make ends meet.

So it's concerning to some economists that people are not following that usual behavior, that people are actually needing their credit card in order to make ends meet.

So it's concerning to some economists that people are not following that usual behavior, that people are actually needing their credit card in order to make ends meet.

And there's also some concern that in terms of consumer spending, which accounts for a large part of overall GDP, that that is perhaps being propped up somewhat by people using their credit cards and spending money that they don't necessarily have.

And there's also some concern that in terms of consumer spending, which accounts for a large part of overall GDP, that that is perhaps being propped up somewhat by people using their credit cards and spending money that they don't necessarily have.

And there's also some concern that in terms of consumer spending, which accounts for a large part of overall GDP, that that is perhaps being propped up somewhat by people using their credit cards and spending money that they don't necessarily have.

Yeah, I mean, it's happened multiple times. It tends to die in legislation or when it gets to a certain House committee or a Senate committee. We have a couple of different ones that have been introduced over the years. The most recent one is the Capping Credit Card Interest Rates Act.

Yeah, I mean, it's happened multiple times. It tends to die in legislation or when it gets to a certain House committee or a Senate committee. We have a couple of different ones that have been introduced over the years. The most recent one is the Capping Credit Card Interest Rates Act.

Yeah, I mean, it's happened multiple times. It tends to die in legislation or when it gets to a certain House committee or a Senate committee. We have a couple of different ones that have been introduced over the years. The most recent one is the Capping Credit Card Interest Rates Act.