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U.S. Credit Card Debt Closed 2018 at a Record $870 Billion

U.S. credit card debt hit $870 billion -- the largest amount ever -- as of December 2018, according to the data from the Federal Reserve. Credit card balances rose by $26 billion from the prior quarter.

"The increase in credit card balances is consistent with seasonal patterns but marks the first time credit card balances re-touched the 2008 nominal peak," according to the report.

Nearly 480 million credit cards are now in circulation -- up by more than 100 million since hitting bottom after the recession a decade ago.


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