The Credit Card Crisis: How Bad Credit Card Debt is Right Now in the United States

Rising average credit card APRs 2021–2024

In recent years, the United States has been grappling with a growing financial challenge: credit card debt. The situation has escalated to alarming levels, affecting millions of Americans and posing significant risks to the overall economy. As of 2024, understanding the depth of this crisis and its implications is crucial for both individuals and policymakers.