US Credit Card Debt Hits Record $1.33 Trillion as Consumer Strain Builds
U.S. credit card debt has climbed to a record $1.33 trillion, adding to signs that households are relying more heavily on borrowing as elevated interest rates and rising living costs pressure budgets. The new high follows a broader buildup in household debt and points to continued strain on consumers.
Earlier data showed total U.S. consumer credit rose $24.855 billion in March, far above the $13.72 billion forecast and the biggest monthly increase since late 2022. That gain reflected a surge in non-revolving credit as well as higher credit-card balances, indicating the latest record in card debt comes after a sharp acceleration in borrowing earlier in the spring.
From the sources (6 posts)
@financialjuiceUS Consumer Credit Actual 24.855B (Forecast 13.72B, Previous 9.48B)
@wallstengine🇺🇸 CONSUMER CREDIT (MAR) $24.86B VS $13.72B EXPECTED
@firstsquawkUS CONSUMER CREDIT (USD) MAR: 24.855B (EST 13.720B; PREV 9.484B; PREV R 8.845B)
@businessUS consumer borrowing increased in March by the most since late 2022, reflecting a surge in non-revolving credit as well as higher credit-card balances
@cointelegraph🚨 BIG: U.S. credit card debt has climbed to record highs as more Americans rely on borrowing to keep up with rising living costs and elevated interest rates.
@fluentinfinanceJUST IN: US credit card debt hit record high of $1.33 trillion. And foreclosure filings jump to 6-year high due to rising insurance, property taxes, and debt strain on homeowners. Meanwhile… US Household Debt = All time high US National