Americans' average credit card balance hits $6,580, but there are signs consumers are managing their debt relatively well
Although Americans are racking up more credit card debt, there are signs households are managing their debt better than they had been before.
Carded: Many Americans struggle with credit card debt
Got credit card debt? There are several ways to approach paying it off. Consumer Investigator Rachel DePompa talks to NerdWallet about different debt repayment strategies.
Credit card debt hit a record $1.21 trillion — here's why 'no one should be surprised,' expert says
Collectively, Americans now owe a record $1.21 trillion on their credit cards, according to a new quarterly report on household debt from the Federal Reserve Bank of New York. Credit card balances jumped by $45 billion in the fourth quarter of 2024, driven in part by holiday spending, and are now 7.3% higher than a year ago.
Americans' credit card debt reaches new record high: New York Federal Reserve
Americans' household debt is at a new all-time high $18.04 trillion, according to a report released Thursday by the Federal Reserve Bank of New York.
Why transferring credit card debt won’t pay it off
Credit card debt is weighing on many Americans. The share of credit card holders making just the minimum monthly payment is at a 12-year high, a report shows.
This Week In Credit Card News: Credit Card Debt Still At Record Levels
Americans Struggle With Record Credit Card Debt U.S. credit card debt reached a record $1.17 trillion in the third quarter of 2024, growing from $770 billion in the first quarter of 2021 and the share of active credit card holders making just minimum payments rose to 10.75%, the highest percentage ever in data going back to 2012. [ The Guardian]
Americans' credit card and household debt reach all-time high
Americans' credit card debt set a new record of $1.2 trillion in the last quarter of 2024, while overall household debt reached a new high of about $18 trillion, the New York Fed found.
Americans face uphill battle when it comes to managing rising debt
A new report by the Federal Reserve Bank of New York shows all major loan categories are on the rise, with credit card balances topping $1.2 trillion-dollars.
American credit card debt pushes to new record high once again
Following the trend of the last several months, Americans’ household debt has increased once again to new record highs, according to the Federal Reserve Bank of New York.
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Why American credit-card delinquencies have suddenly shot up
Recent data published by the Federal Reserve Bank of New York show that the proportion of American credit-card debt in ...
Want to get out of credit card debt? Here’s how this couple paid off $27,000 in 18 months
Tana Williams and her husband found themselves in nearly $27,000 in debt after a series of emergency expenses came up, ...
What is the rule of 72 for credit card debt (and why does it matter)?
The rule of 72 exposes the true cost of procrastination when it comes to credit card debt. Here's how it works.
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How To Consolidate Credit Card Debt
Keeping up with due dates and minimum payments can feel overwhelming, but consolidating your credit card debt offers a path to regaining control of your finances. Credit card consolidation ...
Does Texas have a debt problem?
Yet a handful of recent studies point out a not-so-bright side of the state’s economy: Texas might have a personal debt ...
How to qualify for debt relief in 2025
That's not the only debt issue Americans are facing, either. Total household debt has also reached a new record, and credit ...
President Trump wants to cap credit card interest rates at 10 percent. Is that even possible?
Credit card interest rates are too damn high, according to an unlikely combination of politicians who’ve recently drawn ...
Clark Howard: Tackling debt from the holidays
If you’re worried about the debt you took on this last Christmas, know you’re not alone. If misery loves company, you got ...