财经观察：多重压力下，美国信用卡消费增速放缓

Core Insights - The growth rate of credit card spending in the U.S. has slowed down, with debit card spending outpacing credit card spending for the first time in four years [1][12] - American consumers are increasingly managing their credit card debt, with a notable rise in personal loans as a strategy to pay off credit card balances [2][12] - Young Americans, particularly those aged 18 to 29, are facing significant credit card debt and overdue payments, indicating a troubling trend in financial health among this demographic [5][12] Group 1: Credit Card Spending Trends - Credit card debt in the U.S. has surpassed $1 trillion, but the growth rate of credit card spending has decreased to 5.65% year-on-year, compared to a 6.57% increase in debit card spending [1][12] - Since the end of last year, credit card spending growth has lagged behind that of debit cards, contrasting with the previous 14 quarters where credit card spending consistently outperformed debit card spending [1][12] - The average annual interest rate for credit cards is approximately 22%, significantly higher than that of personal loans, which has led consumers to seek personal loans to manage credit card debt [2][12] Group 2: Consumer Debt Management - A report from credit agency Equifax indicates that while credit card loan balances are growing at a slower pace, the delinquency rate has decreased, suggesting consumers are actively managing their debts [2] - Many consumers are opting for personal loans to pay off credit card debt, with personal loan issuance increasing by 18% year-on-year in the first quarter, reaching a record total of $257 billion [2] - Despite initial success in reducing credit card balances by an average of 57% through personal loans, many consumers find themselves accumulating credit card debt again within 18 months [2] Group 3: Demographic Insights - Young adults (ages 18-29) represent the largest group of credit card delinquents, with nearly 10% of their overdue amounts being 90 days or more past due [5] - The overall credit card delinquency rate has remained high, with 6.93% of debt overdue over the past year, indicating a concerning trend in financial stability among younger consumers [5][12] - A survey revealed that 42% of Americans are worried about their ability to repay credit card debt, with this anxiety affecting their mental health and overall well-being [5][12] Group 4: Economic Context - The slowdown in credit card spending is attributed to rising costs from tariffs and the resumption of student loan repayments, which have added financial pressure on households [10][11] - The job market is showing signs of cooling, with non-farm payrolls adding only 73,000 jobs in July, below market expectations, contributing to consumer uncertainty [11] - Consumers are prioritizing essential spending and reducing discretionary expenses, reflecting a shift in financial behavior in response to economic pressures [11][12]