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 ...

Credit card debt climbed to a record high in the third quarter of 2023, surging nearly 5% from the previous quarter and leaving a growing share of borrowers late on payments, a Federal Reserve ...

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.

American credit card debt has surged to an astronomical $1.18 trillion, with a significant number of individuals reportedly concealing their financial predicaments.

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.

Millennials, individuals born between 1981 and 1996, saw the second-highest increase in credit card debt between April and June at 2.55%, with an average debt of $6,959, according to Credit Karma.

Credit card balances for Americans now stand at $1.18 trillion, while total household debt increased by $167 billion to reach $18.20 trillion in the first quarter.

A new survey finds 23% of credit card debtors believe they’ll never be debt-free, with most citing emergency expenses and everyday costs as the main cause.

Coincidentally, a credit-card company is suing me for $1,000. If you have any tips for getting them to just accept a settlement instead of the full amount, I’d appreciate it.