00:00America's credit card debt has hit another staggering record.
00:04New data from the Federal Reserve Bank of New York shows balances climb to $1.29 trillion
00:09in the third quarter, as consumers increasingly rely on credit cards to keep up with everyday
00:15expenses. The average American cardholder now carries $6,678 in credit card debt,
00:22according to TransUnion. Total household debt has also reached a record $19.1 trillion,
00:28with stubborn inflation and high borrowing costs squeezing family budgets. The numbers are raising
00:34fresh concerns about how much longer consumers can keep spending as the holiday shopping season
00:39approaches.
