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Pandemic frugality starting to wane
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Credit card debt in the United States is starting to rise again, after declining earlier in the Covid-19 pandemic. Also heading north are car loans and mortgage debt.
PHOTO: REUTERS
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(REUTERS) - Early in the pandemic, there were encouraging and surprising signs about the decline of credit card debt. Now, that trendline seems to be changing.
Many people stayed at home at the start of Covid-19 and did not spend like they usually do. They also received several rounds of emergency cash assistance, helping to chop away at those credit card bills, at least temporarily.
