Both credit union and bank credit cards underperformed in December compared with past gains at the height of the holiday season.
The Federal Reserve's G-19 Consumer Credit Report showed credit unions held $82.6 billion in credit card debt on Dec. 31, up 1.8% from November to December. Their average November-to-December gain from 2016 through 2022 was 2.2%.
Banks held $1.2 trillion in credit card debt, up 1.21% from November, compared with an average November-to-December gain of 2.6%.
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