Credit card balances jump to $1.08 trillion record. How we got here

Americans now owe $1.08 trillion on their credit cards, according to a new report on household debt from the Federal Reserve Bank of New York.Credit card balances spiked by $154 billion year over year, notching the largest increase since 1999, the New York Fed found."Credit card balances experienced a large jump...

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U.S. consumer ‘quite healthy,’ as credit scores rise

While Americans' credit card debt levels have reached a record high of more than $1 trillion, their overall credit health has remained strong, according to a report from credit scoring company VantageScore. Even with inflation, rising interest rates and concern about the overall economy, U.S. consumers still have room to...

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