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Americans’ Credit Card Debt Hits $1.13 Trillion. Delinquencies Jump
Americans scored a new record for outstanding credit card debt in Q4, when total open card accounts likewise reached a new all-time high.
That's according to the latest vintage of the New York Fed's household debt report, released on Tuesday.
Credit card balances rose nearly 5% in the fourth quarter versus Q3 and more than 14.5% YoY, hitting a truly "impressive" $1.13 trillion in the process.
The aggregate number of open accounts neared 600 million. As a reminder: That count isn't de-duplic
Somehow these charts look a lot like the ones in 2007.