© 2024 WSIU Public Broadcasting
WSIU Public Broadcasting
Member-Supported Public Media from Southern Illinois University
Donate
Play Live Radio
Next Up:
0:00
0:00
0:00 0:00
Available On Air Stations

American credit card debt passes $1 trillion

Published August 10, 2023 at 7:20 AM CDT
FILE - Consumer credit cards are posed in North Andover, Mass., March 5, 2012. The Consumer Financial Protection Bureau is considering a new rule that would slash credit card late fees by 75%, from current highs of up to $41 to as low as $8. (AP Photo/Elise Amendola, File)
FILE - Consumer credit cards are posed in North Andover, Mass., March 5, 2012. The Consumer Financial Protection Bureau is considering a new rule that would slash credit card late fees by 75%, from current highs of up to $41 to as low as $8. (AP Photo/Elise Amendola, File)

American credit card debt passed $1 trillion this week, having broken the previous record for national credit card debt a few months ago. To put that in perspective, $1 trillion in bills end to end would stretch past the sun from Earth.

It’s another milestone that appears alarming on the surface — but what is the story behind that debt?

We find out from Washington Post personal finance columnist Michelle Singletary as well as getting advice on how to handle debt.

This article was originally published on WBUR.org.

Copyright 2023 NPR. To see more, visit https://www.npr.org.

Donate Today Promo
WSIU – Powered by You
As a WSIU donor, you don’t simply watch or listen to public media programs, you are a partner. By making a gift, you help WSIU produce, purchase, and broadcast programs you care about and enjoy – every day of the year.