Americans Once Again Racking up Credit Card Debt
American consumers have started returning to bad habits. After a record-setting reduction in debt in 2020, consumers added more than $87 billion in new credit card debt last year. The typical annual increase over the past 10 years is just $48 billion. Jill Gonzalez is an analyst with the personal finance website WalletHub. She says the extenuating circumstances during the pandemic did provide some financial benefit.