Credit card debt hits record high
Credit card debt hit a record $1.21 trillion — here's why 'no one should be surprised,' expert says
Collectively, Americans now owe a record $1.21 trillion on their credit cards, according to a new quarterly report on household debt from the Federal Reserve Bank of New York. Credit card balances jumped by $45 billion in the fourth quarter of 2024, driven in part by holiday spending, and are now 7.3% higher than a year ago.
Fifth Third Bank's portfolio includes cash-back and secured credit cards, and even a charge card. But for some of those products, you'll need a relationship with the bank.
A bill would cap credit card rates at 10%, something Trump promised on the campaign trail. Will Trump follow through? Will ...
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