12/5/23 – Credit Card Balances Spiked in The Third Quarter to a $1.08 Trillion Record. Here’s How We Got Here

Credit Card Balances Spiked in The Third Quarter to a $1.08 Trillion Record. Here’s How We Got Here

November 7, 2023 | cnbc.com

Image Credit: Mohamed Hassan from Pixabay
Americans now owe $1.08 trillion on their credit cards, according to a new report on household debt from the Federal Reserve Bank of New York.

Credit card balances spiked by $154 billion year over year, notching the largest increase since 1999, the New York Fed found.

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