U.S. Credit Card Debt Hits Record $1.14 Trillion U.S. consumer credit card debt has reached a record high of $1.14 trillion in the second quarter of 2024, according to the Federal Reserve Bank of New York. This represents a $27 billion increase from the first quarter and a 5.8% rise from the previous year. Delinquency rates have also increased, with 9.1% of cardholders in default. Rising inflation and interest rates have exacerbated the situation, with many Americans relying on credit cards to manage expenses. The average credit card interest rate has climbed to 24.84%, contributing to prolonged debt burdens. « Previous Article Next Article » Share This Article Choose Your Platform: Facebook Twitter Google Plus Linkedin Related Posts The Office Meltdown Will Result in $1 Trillion of Losses, Says Real Estate Billionaire READ MORE Gold Prices Steady After Major Sell-Off Amid China and U.S. Economic News READ MORE Incrementum: Monthly Gold Compass July 2024 READ MORE Heraeus Outlines Four Bullish Indicators for Gold's 2024 Outlook READ MORE Gold ETF Surge: A Conversation with State Street’s Expert READ MORE Add a Comment Cancel replyYour email address will not be published.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