TKL: US credit card debt is up $51 billion over the last year to a record $1.09 trillion. This brings total credit card debt up $344 billion over the last 4 years.

TKL: US credit card debt is up $51 billion over the last year to a record $1.09 trillion. This brings total credit card debt up $344 billion over the last 4 years.

The average interest rate on this debt reached 22%, near an all-time high, according to Fed data.

In effect, US households now hold a record average credit card debt balance of $10,563.

Even worse?

This does not include “Buy Now, Pay Later” which saw a record $19 billion in holiday purchases in 2024.

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