Credit Card Debt: America's $1.13 Trillion Problem The average American is now shouldering a historically high level of credit card debt. As reported by the Federal Reserve, the total amount owed rose to $1.13 trillion in the final quarter of 2023. This staggering figure is mirrored by the fact that nearly 170 million consumers are currently carrying a balance on their credit cards, highlighting a widespread financial challenge, according to TransUnion. Understanding the magnitude of one’s own debt is a crucial step towards devising a strategic plan to address and mitigate this financial burden, underscoring the importance of personal financial awareness and proactive management. « Previous Article Next Article » Share This Article Choose Your Platform: Facebook Twitter Google Plus Linkedin Related Posts Fed's Waller Confirms: U.S. Dollar to Retain Its Global Reserve Currency Status READ MORE Hoenig Cautions Against Expecting Three Rate Cuts Amid Economic Resilience READ MORE Central Bankers Converge at Jackson Hole Amid Rate Cut Speculation READ MORE U.S. Treasury to Initiate Securities Buyback, Holds Quarterly Debt Sale Steady READ MORE Gold Demand Hits Q2 Record Despite Consumer Pullback READ MORE Add a Comment Cancel replyYour email address will not be published. Required fields are marked *Name * Email * Save my name, email, and website in this browser for the next time I comment. Comment