Credit Card Debt Hits Record $1.13 Trillion, But Robust Economy Signals Manageable Consumer Debt Loads

Credit card debt hit a record $1.13 trillion in Q4 2022, but inflation-adjusted debt is 20% below 2008 peak levels.

Job market strength, robust wage gains, and solid spending suggest consumers can handle debt loads.

Half of borrowers pay balances in full each month; average unpaid balance was $6,864 in Q4 2022.

Nvidia named Huawei a top competitor in AI chips, GPUs, and other key technology areas.

While debt has increased, broader economic picture doesn't indicate immediate distress for consumers or economy.