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Americans Can Pay Their Credit Card Bills, But For How Long?

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FILE - This Aug. 11, 2019 file photo shows Visa credit cards in New Orleans. The coronavirus pandemic hasn’t stopped Americans from keeping up with their credit card payments, thanks in large part to government relief programs passed by Congress earlier this year. For some, however, the ability to keep buying things with plastic and then pay the bill likely depends on whether current negotiations in Washington produce another round of economic aid. (AP Photo/Jenny Kane, File)

(AP) — The coronavirus pandemic hasn’t stopped Americans from keeping up with their credit card payments, thanks in large part to government relief programs passed by Congress earlier this year. For some, however, the ability to keep buying things with plastic and then pay the bill likely depends on whether current negotiations in Washington produce another round of economic aid. Many existing aid measures are set to soon expire. Up to now, the major credit card issuers _ JPMorgan Chase, Bank of America, Citigroup, Capital One and American Express _ have reported relatively stable delinquency rates despite the recession caused by the pandemic.

 

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