Credit Card Debt Reaches Record Levels, With Half of Americans Carrying Balances

High interest rates and inflation contribute to rising credit card debt, affecting all age groups and income levels.

American consumers owe $1.14 trillion in credit card balances, the highest in history.
50% of credit cardholders now carry a balance month to month, up from 44% in January 2024.
Delinquency rates are at their highest since 2011, with 9.1% of balances 30 days past due.
Gen Xers Millennials are the most likely to carry debt, while Gen Zers are better at paying off balances.
Inflation and high interest rates are key factors worsening the debt burden for many Americans.