Credit Card Balances Hit Record Highs

American credit card debt has alarmingly surged to $1.08 trillion, marking a disastrous yearly increase and the worst spike since 1999. Millennials are particularly hit hard, struggling with escalating delinquencies amidst mounting student loans. Nationwide, the cost-of-living crisis pushes more people into relentless debt cycles, with a significant number facing steep interest penalties, unable to chip away at the growing financial hole.