U.S. Credit Card Debt Hits Record $1.14 Trillion as Delinquencies Surge

Rising inflation and interest rates strain household budgets, pushing more Americans into prolonged debt and delinquency.

Average credit card debt per consumer has risen to $6,329, a 4.8% increase from last year.
10.93% of credit card accounts are over 90 days delinquent, the highest rate since 2012.
Credit card balances have soared by 48% since early 2021, driven by post-pandemic spending and inflation.
Millennials and Gen Xers are more likely to carry credit card debt compared to Gen Z.
Experts advise consolidating high-interest debt to manage rising financial pressures.