Inflation is at a four-decade high and a recession could be near, but credit-card issuers aren’t worried: They are aggressively courting new customers and trying to increase credit-card balances.
Marketing expenses are up, new account openings are surging and card spending hit records in the second quarter
Middle-income Americans have built up less savings, lost more in the market downturn and face higher average inflation in 2022. WSJ’s Dion Rabouin uses three key data points to explain. Illustration: Ryan Trefes
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