Americans have started buying again; this past December, they pulled out their credit cards, and charged their holiday gifts. There’s currently $800 billion on credit cards. This may be good for the economy, but it is it good for your wallet?
Revolving debt, which includes credit cards, rose $2.3 billion in December. That’s the first gain since August of 2008. What does that say about our economic recovery? Louise Story, Wall Street and finance reporter for our partner The New York Times helps explain the significance in these numbers.