Published 9 days ago • loading... • Updated 4 days ago

A third of Americans have more credit card debt than emergency savings

Americans are struggling with debt as overall debt levels reached $18.04 trillion in the fourth quarter of last year, a 0.5% increase according to the Federal Reserve Bank of New York.
Credit card balances hit a record $1.21 trillion, rising 7.3% from the previous year, influenced by holiday spending and high borrowing costs.
Serious delinquency on auto loans and credit cards is at a 14-year high, with 3.6% of outstanding debt in some stage of delinquency, highlighting rising financial stress.
Inflation has forced many Americans to rely more on credit cards, leading to frequent new records in credit card debt.

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Fox Business

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.

4 days ago·United States

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tfppwire.com

American Credit Card Owe a Record High 1.21 Trillion in Credit Card Debt

Americans now owe a staggering $1.21 trillion in credit card debt, with rising delinquencies signaling financial distress. With inflation still high and interest rates exceeding 20%, many are struggling to keep up with payments, raising concerns about long-term economic stability. Key Facts: Americans owe $1.21 trillion in credit card debt as of Q4 2024, per the New York Fed. This marks a $45 billion increase from Q3 2024 and a 7.3% jump year-o…

7 days ago

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Washington Times

Americans owe $1.21 trillion in credit card debt, a record high

Americans continue to rack up debt, owing $1.21 trillion on their credit cards as of the fourth quarter of fiscal 2024, according to the Federal Reserve Bank of New York.

7 days ago·United States

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The Hill

One-third of Americans have more credit card debt than emergency savings: Survey

Millennials were most likely to have more debt than savings, with 42% falling into that category.

8 days ago·Washington, United States

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The Epoch Times

US Credit Card Debt Hits Record $1.21 Trillion at End of 2024

Americans piled up debt at the end of 2024, with credit card balances reaching a record $1.21 trillion in December, according to the Federal Reserve Bank of New York’s latest report on household debt and credit. Debt levels increased across several categories, with auto loan balances climbing by $11 billion to $1.66 trillion, while total household debt grew by $93 billion to reach $18.04 trillion, according to the report. Mortgage balances rose …

8 days ago·New York, United States

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Digi 24

Americans' cumulative credit card debt has exceeded $1.2 trillion

Americans' cumulative credit card debt has reached a new record of $1.21 trillion, according to a quarterly report on household debt published by the Federal Reserve Bank of New York, quoted by CNBC, news.ro reports.

9 days ago·Romania

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