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Americans are facing a credit card debt crisis

• legitster 3y ago
  > Of that total debt, credit card balances are growing the fastest. Americans owe a record-high $1.13 trillion on their credit cards. That total increased by 4.6% in the third quarter of 2023 — the ninth straight quarter with a rise — even before the holidays, and faster than the overall debt growth rate of 1.2% in that period. Given that inflation was 4.9% during that quarter, credit debt grew less than inflation and overall debt increase was well below inflation. Nothing here really screams a "crisis" any more than usual.