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RFK JR. On a shocking credit card of $ 1.2 million – a glimpse of the growing debt crisis of Americans? RFK JR. On a shocking credit card of $ 1.2 million – a glimpse of the growing debt crisis of Americans?

Robert F. Kennedy Juniorpresident Donald Trump The Minister of Health and Humanitarian Services revealed in the financial disclosures that he carries up to $ 1.2 million of credit card debts.

Fees are imposed on its balances, which range between 610,000 dollars and 1.2 million dollars, at high interest rates from 23.24 % to 23.49 %, Reports CNBC.

While Kennedy’s financial situation may seem unusual, experts say that high credit card debt is not limited to the wealthy.

Credit card balances throughout the United States rose to $ 1.17 trillion in 2024, with many consumers, including high -income individuals, depending on credit to manage expenses amid high prices.

Matt SchulsCNBC, chief credit analysts, notes that credit cards have become the “actual emergency fund” for many Americans as inflation presses their budgets.

Also read: Mark Zuckerberg’s Meta to start comprehensive demobilization operations next week, accelerates the employment of automated learning engineers: Report

Financial experts emphasize that carrying high credit card cards is expensive, as CNBC writes. If Kennedy pays his debts at $ 50,000 per month, it may take up to 33 months to pay the balance of $ 1.2 million, incurring about $ 434,000 at interest.

In an interview with CNBC, Ted RosmanBankrase chief, Kennedy’s debts are “really huge” but also highlighting that with large income, this debt is confusing.

For ordinary consumers, the average credit card debt per borrower reached $ 6,380 in 2024, at a rate of 20.13 % interest, as CNBC adds.

Experts suggest speeding the debt payment to reduce the burden of attention, which can accumulate quickly.

Reducing credit card debt, as they advise, is very important to financial health – for both the wealthy and ordinary Americans.

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