Americans' Credit Card Debt Hits $1 Trillion as Lower-Income Households Struggle with Inflation and Debt

Americans have accumulated over $1 trillion in credit card debt, reaching record highs. Delinquency rates are also climbing.

Lower- and middle-income Americans, especially renters, are falling behind on debts and facing deteriorating financial health due to battling high inflation.

Nearly 2/3rds of Americans who own homes or invest in stocks are financially healthy. But the rest face rough circumstances.

Inflation although lower remains high, with costs for rents, bread, gas still elevated over pre-pandemic levels.

Resumption of student loan payments could further strain Americans, especially younger and less affluent dealing with other debts.