This Week In Credit Card News: Credit Card Debt Surges To A Record High [Forbes]
NerdWallet, Inc. (NRDS)
Company Research
Source: Forbes
September, according to a new report from the New York Federal Reserve. Total credit card debt rose to $1.17 trillion during the third quarter, an increase of $24 billion from the previous quarter, according to the report. It marks the highest level on record in Fed data dating back to 2003. While still above pre-pandemic highs, credit card delinquencies did ease some last quarter to 8.8%, down from 9.1% from the previous quarter. [ Fox Business ] Credit card debt continues to rise, putting stress on so many consumers getty 28% of Credit Card Users Are Still Paying Off Last Year's Holiday Debt Americans tend to overspend during the holiday season. In fact, some borrowers are still paying off debt from last year's purchases. To that point, 28% of shoppers who used credit cards have not paid off the presents they bought for their loved ones last year, according to a NerdWallet report. However, this is a slight improvement from 2023, when 31% of credit card users had still not pa
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