CardHub: Record $57.1 billion in new credit card debt for 2014

Americans charging more than ever, pushing towards 'unsustainable'

CardHub today released its 2014 Credit Card Debt Study, which revealed that consumers ended 2014 with a record $57.1 billion net increase in credit card debt – 47% more than 2013 and 55% more than 2012.

Here’s what they found:

  • $45.5B: U.S. consumers incurred $45.5 billion in credit card debt during the fourth quarter alone, marking six consecutive quarters with year-over-year debt load increases.
  • $7,200: While defaults are at a six-year low, the average household’s credit card balance – nearly $7,200 as of the end of 2014 – is growing dangerously close to the $8,300 tipping point previously identified by CardHub as being unsustainable.
  • $180B: Consumers have now racked up close to $180 billion in credit card debt following the nearly debt-neutral years of 2009 and 2010.
  •  $60B: CardHub now projects a credit card debt increase of more than $60 billion in 2015.

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