"Rising Credit Card Debt: Millennials Struggle as Delinquencies Spike"

Millennials in their 30s are facing increasing credit card debt, with outstanding balances reaching a record high of $1.13 trillion in the fourth quarter of 2023. The 90-day delinquency rate for credit cardholders has also risen to 6.36%, particularly affecting younger millennials and lower-income households. The end of the federal student loan pause and high interest rates on credit cards are contributing to financial strain. The Federal Reserve's cautious approach to interest rate adjustments may lead some card issuers to consider lowering rates in the near future.