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Big Spenders Wanted
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Big Spenders Wanted

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Demography Unplugged
Nov 20, 2021
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Big Spenders Wanted
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In the early days of the pandemic, credit card spending plunged, and balances did too. From January 2020 through April 2021, balances on credit cards fell by $166 billion, according to Equifax—the result of Americans spending less and also paying off their debts more. Some people got rid of them altogether: The number of open credit cards fell by 7% bet…

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