Credit card debt hit a record $1.21 trillion — here's why 'no one should be surprised,' expert says
Collectively, Americans now owe a record $1.21 trillion on their credit cards, according to a new quarterly report on household debt from the Federal Reserve Bank of New York. Credit card balances jumped by $45 billion in the fourth quarter of 2024, driven in part by holiday spending, and are now 7.3% higher than a year ago.
This Week In Credit Card News: Credit Card Debt Still At Record Levels
Americans Struggle With Record Credit Card Debt U.S. credit card debt reached a record $1.17 trillion in the third quarter of 2024, growing from $770 billion in the first quarter of 2021 and the share of active credit card holders making just minimum payments rose to 10.75%, the highest percentage ever in data going back to 2012. [ The Guardian]
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Credit Cards vs. Debit Cards: When to Use Each One?Navigating the world of plastic money can be tricky. Understanding when to use a credit card versus a debit card is crucial for managing your finances effectively.
Bank of America issues a range of credit cards. There are cards for earning travel rewards and cash-back, as well as small business cards, airline credit cards and ones for building ...
and withholding promised credit card rewards, among other practices. NerdWallet previously had a star-ratings penalty on Bank of America’s institutional rating, but the penalty has expired.
Bank of America is one of the largest banks in the United States and has a market capitalization of about $350 billion, as of early 2025. There are few other financial stocks that ...
Commissions do not affect our editors' opinions or evaluations. The best Bank of America credit cards have something for nearly everyone—from those rebuilding credit to students starting out to ...
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