Average credit card balances jump 10% to a record $6,360 as more consumers fall behind on payments
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Credit card debt has notched another new high. Americans now owe $1.13 trillion on their credit cards, the Federal Reserve Bank of New York reported Tuesday. Balances jumped 10% from a year ago, according to a separate quarterly credit industry insights report from TransUnion, with the average balance per consumer hitting $6,360, also a historic record.
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This story from cnbc.com was posted on 2024-02-08 by @autumndew.