⚠️CHART OF THE WEEK: US credit card debt hits another all-time high

Credit card debt rose by $24 billion in Q3 2024 and hit a new record of $1.17 trillion

US Credit card debt rose jumped by $24 billion in Q3 2024 and hit $1.17 trillion a new all-time record. Credit card debt skyrocketed by $400 billion over the last 3 years as consumers have been fighting record prices.

According to TransUnion data, the average consumer balance is $6,329, and increased by 4.8% year-over-year.

Shockingly, 28% of credit card holders are still paying off last year’s holiday debt.

More data and analysis on the world’s largest economy below:

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