- America’s credit card balance has passed $1 trillion, or it’s about to, depending on whom you ask.
- The average interest rate on a new card is 24 percent, the highest figure since the Reaganomics era.
- A typical American household now carries $10,000 in credit card debt, by one estimate, another record.
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Americans Owe $1 Trillion In Credit Card Debt
FILE - This Aug. 11, 2019 file photo shows Visa credit cards in New Orleans. Even if your credit card already earns solid ongoing rewards, there are several ways to rev up those earnings, especially amid the heavy shopping that tends to happen during the holiday season. First, look for lucrative sign-up bonuses when you open a credit card and meet a spending threshold. Beyond that, other opportunities abound — from online shopping portals you can visit to one-time offers you can add to your card as well as shopping strategies like buying gift cards. (AP Photo/Jenny Kane, File)
