Credit card debt hits a ‘staggering’ $1.13 trillion. Here’s why so many Americans are under pressure
Collection Industry News
FEBRUARY 25, 2024
Americans now owe a collective $1.13 trillion on their credit cards, according to a new report on household debt from the Federal Reserve Bank of New York. Credit card balances increased by $50 billion, or roughly 5%, in the fourth quarter of 2023, the New York Fed found.
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