“Credit card debt increases by $50B to new record high”

“Credit card debt in the United States increased by $50 billion in the fourth quarter of 2023, according to recent findings from the New York Federal Reserve.

The latest report, released Tuesday, found the total credit card balances stood at $1.13 trillion by the end of December, which is about a 4.6 percent increase from the third quarter of 2023. This appears to be the highest credit card balance since at least 2003, according to the state’s Federal Reserve data…”