An unsettling trend Surging inflation and costs have pushed many consumers deeper into credit card debt. In Q4 2024, the average credit card borrower owed $6,580, up from $6,360 a year before.

Late credit card payments have hit a record high: Here's how to tackle outstanding debt Past-due payments on auto and student loans are also breaking records. Published Sat, Apr 19 2025 ...

Americans are racking up more and more credit card debt. Collectively, consumers owe a record $1.21 trillion on their credit cards, the Federal Reserve Bank of New York recently reported.

Short term: “There is a little bit of a seasonal element to it,” said Kish. This data is from the end of 2024, and consumers always carry more credit card debt during the holiday shopping season.