Americans now hold a staggering $1 trillion in credit card debt, reaching an all-time high.

The Federal Reserve Bank of St. Louis: Americans’ Credit Card Debt Reaches $1 Trillion

The Federal ‌Reserve Bank of St. Louis reported on Friday that Americans have reached a historic and troubling milestone⁤ – they now owe a staggering $1 ‌trillion in credit card debt.

This alarming figure coincides with the fact that some credit card interest rates have soared to⁢ their highest levels in the past⁣ 40 years.

A recent study conducted by WalletHub revealed that the average interest rates for new credit card offers, which are often presented at a discounted rate compared to the standard rate, have also been affected.

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