Surging inflation and rising costs have forced many consumers deeper into credit card debt. According to TransUnion, the average credit card borrower owed $6,380 in the third quarter of 2024 — up from $6,088 one year ago and $4,869 three years ago.

Many Americans are capping off the holidays with new debt balances. This season, 36% of American consumers took on holiday debt, according to a new survey from LendingTree. Those who racked up balances this season took on an average of $1,

It was a great holiday season for retailers in the U.S., but many consumers reported taking on more debt to pay for costlier goods. (Scripps News)

Holiday debt wasn’t distributed equally. Shoppers earning six-figure annual salaries took on the most debt, the survey found, at an average of $1,429, while those earning betwee