U.S. Credit Card Debt Surges to $1.08 Trillion, Delinquencies Rise

Fewer than half of cardholders have a plan to pay off their debt, as interest rates reach two-decade high.

Credit card debt in the U.S. has risen 4.7% in the third quarter to $1.08 trillion, with late payments also increasing.
Fewer than half of cardholders who carry a balance have a plan for paying it off, according to a Bankrate survey.
All stages of credit card delinquency jumped higher during the third quarter of last year, surpassing pre-pandemic levels for the first time.
Nearly 30% of residents in the nation's 100 largest metros were behind on at least one debt payment during the third quarter of 2023.
Interest rates are the highest they’ve been in two decades, making debt more expensive.