Credit Card Debt Soars to Over $1 Trillion as More Americans Struggle with High Interest Payments
- Americans owe over $1 trillion in credit card debt in 2024, an all-time high
- 36% of Americans have more credit card debt than emergency savings
- Average household credit card debt is $7,951
- Credit card balances increased by $50 billion (4.6%) in Q4 2023
- Gen X has the highest average credit card debt at $8,134
