U.S. Credit Card Debt Hits Unprecedented $1.13 Trillion, Fed Report Reveals In the last quarter 2023, credit card debt in the U.S. hit a new high, reaching $1.13 trillion. This marks a $50 billion increase, or 4.6%, from the third quarter, as reported by the New York Federal Reserve Bank’s quarterly analysis on household debt and credit. Not only did credit card balances spike, but overall household debt also went up by 1.2%, totaling $17.5 trillion. « Previous Article Next Article » Share This Article Choose Your Platform: Facebook Twitter Google Plus Linkedin Related Posts U.S. Banks Face Dual Challenges: Weakening Loan Quality and Declining Interest Payments READ MORE Fed's Michelle Bowman Emphasizes Caution in Monetary Policy to Counter Inflation READ MORE Fed Vice Chair Warns of Challenges on Road to Inflation Target READ MORE Analysts Predict Further Gains for Precious Metals Amid Strong Chinese Demand READ MORE Balancing Act: Oil Market Weighs China Concerns Against OPEC+ Cuts and Geopolitical Risks READ MORE Add a Comment Cancel replyYour email address will not be published.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