Americans Face Record Credit Card Debt Amidst Rising Delinquency Rates π³
Americans' credit card debt surged to an all-time high of $1.08 trillion in the third quarter of this year, according to data released by the Federal Reserve Bank of New York. This substantial increase of $154 billion from the same period in 2022 represents the largest spike since the NY Fed initiated tracking household debt in 1999.
This significant risβ¦