Credit card debt hits a new record high

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.
Credit card debt hits a new record high: 3 ways to tackle yours now
Credit card debt has skyrocketed in recent months, and if you're carrying a balance, it's time to fix the issue.
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.
This is what Americans owe on their credit cards: Fed
Americans are facing unprecedented levels of household debt, with credit card balances hitting a record high. The Federal Reserve Bank of New York's latest report sheds light on the factors contributing to this surge and what it means for the economy.
Credit-card debt hit record $1.21 trillion after unusual holiday unptick in 2024
Credit-card debt in the U.S. hit another record after an unusually-high increase following the holidays. Debt from credit cards reached $1.21 trillion i
Mortgage and credit card interest rates to remain high
Inflation is up for the fourth straight month with families paying more groceries and medical bills, and it being unlikely ...
RFK Jr. Reports $1.2M Credit Card Balance. How Much Credit Card Debt Is OK?
Kennedy Jr. recently reported owing $610,000 to $1.2 million in credit card debt. Most Americans need to keep a tighter grip ...
What would be the impact of a credit card interest rate cap?
New legislation in Congress that would cap credit card interest rates at 10% that has the backing of President Trump could ...
Forbes3d
What Is The Average Credit Card Interest Rate?
Evan Coleman is an Updates Editor on the Credit Cards and Travel Rewards team at Forbes Advisor, showcasing his interest in personal finance and love of travel. He has written for a variety of ...
A bill would cap credit card rates at 10%, echoing a Trump pledge. Are there downsides?
A bill would cap credit card rates at 10%, something Trump promised on the campaign trail. Will Trump follow through? Will ...
NerdWallet8d
10 Best Low Interest Credit Cards of February 2025
If you tend to carry a balance most months, a card with a low ongoing interest rate will work to your advantage in the long run. NerdWallet's credit cards content, including ratings and ...
Trump Promised a Cap on Credit Card Interest Rates. Here’s His Chance.
Senators Bernie Sanders and Josh Hawley say they will propose a 10 percent limit on credit card interest rates.
Bernie Sanders, Josh Hawley introduce bill to cap credit card interest rates. What to know
Sen. Bernie Sanders of Vermont and Sen. Josh Hawley, a Republican from Missouri, introduced legislation to cap credit card ...
Two Senators Want to Cap Credit-Card Rates at 10%. Banks Say That Would Cut Credit Access
A bipartisan pair of senators want to cap your credit-card interest at less than half the typical rate. They may have President Trump's support—but banks aren't so excited.
Crowdfund Insider7h
Policy to Cap Credit Card Interest Rates is Wrong and a Form of Price Control. The Market Always Wins.
Everyone gets it. Credit card interest rates are ridiculously high. The best option is to avoid expensive credit cards and ...
Sanders and Hawley introduce bill to cap credit card interest rates at 10%
Sanders and Hawley’s bill comes after President Donald Trump vowed in the 2024 race to temporarily cap credit card interest ...