US Credit Card Debt Surged Most in Two Decades

  • Written by Martin Crutsinger for ABC News

Americans gave their credit cards a real workout this past holiday season.

The Federal Reserve said Friday that borrowing on credit cards rose by the largest amount in more than two decades in December.

Total U.S. consumer borrowing rose $22.1 billion in December, the central bank said. That was the biggest gain since July and nearly double the $11.8 billion increase in November.

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