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Credit-card bills and car loans swelled at the end of 2024
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Americans kept piling on debt during the holiday season, opening up a large number of new credit cards and stalling — at least for now — a hope that credit-card delinquencies would start reversing their high levels, according to a new look at Americans’ debt burdens at the end of last year.
Americans added $93 billion in mortgage and nonmortgage debt during the fourth quarter of 2024, with almost half the sum coming from newly acquired credit-card debt, according to the Federal Reserve Bank of New York’s quarterly report on household debt.
