Credit card debt just hit a record $1.21 trillion

$1.2T

2/13/25

Americans are drowning in a record $1.2 trillion of credit card debt, according to the Federal Reserve Bank of New York. In just the last quarter of 2024, balances skyrocketed by $45 billion, fueled by holiday spending, pushing debt 7% higher than the year before. Meanwhile, delinquencies remain rampant, with another 7% of balances slipping into overdue status in the last year.

More Personal Finance

See all Personal Finance

Tom Jones

lucky numbers

9/3/25

The Powerball jackpot has risen to $1.4 billion ahead of Wednesday’s draw

Ten-figure prize pots are increasingly common.

Tom Jones, Claire Yubin Oh

off the move

8/18/25

Americans are moving at half the rate they used to — why?

The factors that have coalesced to keep millions of Americans from switching towns, counties, and states.

Men taking chair and box out of moving van

Hyunsoo Rim

DATA DROP

8/5/25

Trump fired BLS chief after new data changed the labor outlook, but just how common are data revisions?

The revisions wiped out over 250,000 “job gains” from prior months — the biggest non-Covid drop since 1979.

Hyunsoo Rim

Key moment

8/1/25

US homeowners are more locked in than they’ve been for 40 years

With mortgage rates near 7%, buyers are holding back and sellers are staying put — leaving the housing market frozen.

Man holds huge key in hand and unlocks large door

More Americans are out of work longer, as employers hold back on both hiring and firing

Recurring jobless claims just hit their highest level since late 2021.

Hyunsoo Rim6/30/25

Latest Stories

Sherwood Media, LLC produces fresh and unique perspectives on topical financial news and is a fully owned subsidiary of Robinhood Markets, Inc., and any views expressed here do not necessarily reflect the views of any other Robinhood affiliate, including Robinhood Markets, Inc., Robinhood Financial LLC, Robinhood Securities, LLC, Robinhood Crypto, LLC, or Robinhood Money, LLC.