Credit Card Debt Hits Record High as Americans Struggle to Make Ends Meet
New York, NY – Americans are turning to credit cards to cover everyday expenses, with debt reaching a new high at the end of December, according to a report from the New York Federal Reserve published on Tuesday. In the final quarter of 2023, total credit card debt surged to $1.13 trillion, an increase of $50 billion, or 4.6% from the previous quarter, marking the highest level on record in Fed data dating back to …