Credit Card Debt Soars to $1 Trillion as Rate Hikes Hit Millennials
- U.S. credit card debt reaches $1.08 trillion according to New York Fed report
- Debt increased by $154 billion year-over-year, largest jump since 1999
- Fed's interest rate hikes compound impact on credit card rates, now over 20%
- Report shows rising delinquencies across age groups, especially millennials 30-39
- Millennials facing student loan debt challenges also seeing credit card troubles