Credit card debt hits a ‘staggering’ $1.13 trillion. Here’s why so many Americans are under pressure
Collection Industry News
FEBRUARY 25, 2024
Credit card balances increased by $50 billion, or roughly 5%, in the fourth quarter of 2023, the New York Fed found. Credit card rates top 20% Credit card rates were already high but spiked along with the Federal Reserve’s string of 11 rate hikes, including four in 2023. Americans now owe a collective $1.13
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