Chart Credit Card Debt Drops Sharply As Consumers Cut Back Statista Credit card debt drops sharply as consumers cut back. u.s. household debt decreased by $34 billion to $14.27 trillion in the second quarter of 2020, marking the first decline since the second. Consumer credit rose by a modest $8.9 billion in june, federal reserve data showed. economists had expected a $9.7 billion increase, according to a wall street journal forecast. the use of credit.
Credit Card Debt Graph The most recent data from the federal reserve reveals that credit card debt sits at $1.14 trillion—yes, that’s trillion with a “t”—in q2 2024. the figure represents a meaningful increase. On friday, the federal reserve reported that the average annual interest rate that consumers are paying on credit card balances hit a record high of 22.8 per cent at the end of august, up from 16. U.s. consumers collectively owe a record $1.14 trillion in credit card debt, figures released tuesday by the federal reserve bank of new york show. that's $27 billion more than the $1.13 trillion. News. us credit card debt is at a current level of 1.142t, up from 1.115t last quarter and up from 1.031t one year ago. this is a change of 2.42% from last quarter and 10.77% from one year ago. in depth view into us credit card debt including historical data from 1999 to 2024, charts and stats.
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