Five things to know:
1. Credit card balances now total a record $1.08 trillion, according to the Federal Reserve Bank of New York’s latest quarterly report.
2. Fifty-six million Americans have been in credit card debt for at least a year.
3. Americans’ credit card balances have “skyrocketed 40%” over the past two years, Ted Rossman, senior industry analyst at Bankrate, told CNBC. He said that “while Americans are managing their credit card debt pretty well, all things considered, we are seeing pockets of trouble at the household level.”
4. The average credit card interest rate is now more than 20%, which is an all-time high.
5. Bankrate found that at 20.74% APR, if a person made minimum payments toward the average credit balance — $6,088, according to TransUnion — it would take more than 17 years to pay off the debt and cost more than $9,072 in interest.
Becker’s 3rd Annual Fall Chief Pharmacy Officer Summit is the top tier event that the people leading the future of pharmacy convene. This 3-day event is built specifically for Chief Pharmacy Officers and senior pharmacy leaders. The sessions examine the workforce, financial and clinical priorities shaping pharmacy today. Becker’s is where candid discussions flourish and new ideas thrive. Becker's 3rd Annual Fall Chief Pharmacy Officer Summit
