"Record-Breaking Credit Card Debt and Delinquencies Signal Financial Stress for Americans"

Americans' total credit card debt hit a record high of $1.13 trillion at the end of 2023, with card balances increasing by 4.6% in the fourth quarter. Credit card delinquencies also rose, contributing to the overall household debt reaching $17.5 trillion. Factors such as higher living costs and more cardholders carrying over debt from month to month have led to increased financial stress, particularly among younger and lower-income households.