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 Gold Hits Three-Week High as Cooling Inflation Fuels Fed Rate Cut Hopes READ MORE Potential Shift in Fed's Interest Rate Committee Dynamics in 2024 READ MORE Fed's Bostic Signals Potential September Rate Cut READ MORE In Gold We Trust, Own Silver We Must READ MORE Fed’s Kashkari: Public Prefers Recession Over High Inflation READ MORE Add a Comment Cancel replyYour email address will not be published.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