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Americans’ credit card debt hits a record $1 trillion

Ravi860

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Ravi860

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Americans’ credit card debt levels have just notched a new, but undesirable, milestone: For the first time ever, they’ve surpassed $1 trillion, according to data released Tuesday by the Federal Reserve Bank of New York.

During the second quarter, credit card balances shot up by $45 billion, or nearly 4.6%, to land at $1.03 trillion, according to the New York Fed’s latestQuarterly Report on Household Debt and Credit. 

 

https://amp.cnn.com/cnn/2023/08/08/economy/us-household-credit-card-debt/index.html
 

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