A study by an online credit score provider warns that Americans are forgetting the lessons of the Great Recession, and piling on record amounts of debt.
WalletHub on Wednesday released an index of financial literacy that ranked Louisiana as having the worst levels of financial-education programs and consumer habits among the 50 states and Washington, D.C. New Hampshire ranked the highest.
The subsidiary of Washington, D.C.-based Evolution Finance Inc. reported that average credit-card debt per U.S. household peaked at $8,463 in the fourth quarter of 2007 at the Great Recession began, and fell to a low of $776.6 billion in the 1st quarter of 2011. It rose from $7,893 at the end of 2015 to $8,377 on Dec. 31, 2016.
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