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Consumer Debt Climbs to $14.6 Trillion, Driven by Mortgages and Auto Loans

Consumer Debt Climbs to $14.6 Trillion, Driven by Mortgages and Auto Loans

You'd think that in the course of the pandemic, consumers would be taking a step back on the borrowing front. Compared to good debt, such as mortgages and auto loan debt, credit card debt can be detrimental. Not only do credit cards charge exorbitant amounts of interest, but too much credit card debt can cause a credit score to drop.