Young Borrowers Struggle as Credit Card Debt Hits 14-Year High Credit card debt is becoming a growing concern for the economy, with severe delinquencies rising to 10.7% in the first quarter, the highest in 14 years, as reported by the Federal Reserve Bank of New York. Younger borrowers are particularly struggling as interest rates hit a 23-year high. Total credit card debt increased to $1.12 trillion from just under $1 trillion a year ago, signaling potential risks to consumer spending. « Previous Article Next Article » Share This Article Choose Your Platform: Facebook Twitter Google Plus Linkedin Related Posts Fed's Hesitation on Rate Cuts Risks Economic Stability, Experts Warn READ MORE Oil Prices Climb as Middle East Tensions Escalate Before OPEC+ Meeting READ MORE Americans Prioritize Summer Fun Over Financial Health, Risking Long-Term Debt READ MORE Gold Holds Ground Above $2,512 Amid Mixed Economic Signals READ MORE Markets Navigate Trump Shooting Fallout: Dollar Stable, Bitcoin Jumps READ MORE Add a Comment Cancel replyYour email address will not be published.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