Credit card debt hits new record, raising warning sign

Americans’ outstanding credit card debt hit a new record in November, highlighting a more confident U.S. consumer but also flashing a warning signal of potential trouble down the road.

Revolving credit, mostly credit cards, increased by $11.2 billion to $1.023 trillion, the Federal Reserve said Monday. That nudged the figure past the $1.021 trillion highwater mark reached in April 2008, just before the housing and credit bubbles burst. Over the past year, revolving credit has surged by $55.1 billion, or 5.7%, according to the Fed and Contingent Macro Research.

Paul Davidson, USA TODAY

https://www.usatoday.com/story/money/2018/01/08/credit-card-debt-hits-new-record-raising-warning-sign/1014921001/