A mericans are increasingly struggling with their credit card debt, with the number of cardholders making minimum-only payments painting a concerning picture of consumer financial

Recent data published by the Federal Reserve Bank of New York show that the proportion of American credit-card debt in serious delinquency—with balances at least 90 days overdue—surged to 11% in the final quarter of last year (see chart 1).

The answer lies in the statute of limitations, which is a legal timeframe that determines how long a lender or collection agency can take legal action against you for unpaid debts

Tana Williams and her husband found themselves in nearly $27,000 in debt after a series of emergency expenses came up, coupled with years of overspending. To get out of debt, they came up with a new budget, started taking on side hustles to earn extra income and found a debt management method that worked for them.

Collectively, Americans now owe a record $1.21 trillion on their credit cards, according to a new quarterly report on household debt from the Federal Reserve Bank of New York. Credit card balances jumped by $45 billion in the fourth quarter of 2024, driven in part by holiday spending, and are now 7.3% higher than a year ago.

A new survey reveals how Americans view credit card debt in relationships, with some saying it's a dealbreaker and others setting financial limits.

Credit card debt is weighing on many Americans. The share of credit card holders making just the minimum monthly payment is at a 12-year high, a report shows.

Getting out of credit card debt can seem impossible. Find out how you can avoid paying interest on your credit card debt.

Got credit card debt? There are several ways to approach paying it off. Consumer Investigator Rachel DePompa talks to NerdWallet about different debt repayment strategies.

Americans' credit card debt set a new record of $1.2 trillion in the last quarter of 2024, while overall household debt reached a new high of about $18 trillion, the New York Fed found.