Credit card debt hit a record $1.21 trillion — here's why 'no one should be surprised,' expert says
Collectively, Americans now owe a record $1.21 trillion on their credit cards, according to a new quarterly report on household debt from the Federal Reserve Bank of New York. Credit card balances jumped by $45 billion in the fourth quarter of 2024, driven in part by holiday spending, and are now 7.3% higher than a year ago.
This Week In Credit Card News: Credit Card Debt Still At Record Levels
Americans Struggle With Record Credit Card Debt U.S. credit card debt reached a record $1.17 trillion in the third quarter of 2024, growing from $770 billion in the first quarter of 2021 and the share of active credit card holders making just minimum payments rose to 10.75%, the highest percentage ever in data going back to 2012. [ The Guardian]
I’m very disappointed with Bank of America. Due to an issue with their ... I’ve been using credit cards for 8 years and have never had any issues with payments or late fees on any of them.
Bank of America issues a range of credit cards. There are cards for earning travel rewards and cash-back, as well as small business cards, airline credit cards and ones for building ...
A group of Bank of America customers are joining together to sue the US financial giant. A proposed class action lawsuit alleges BofA promised to hand a trove of reward points to new credit card ...
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