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The Independent UK
The Independent UK
James Liddell and Alicja Hagopian

How much credit card debt is ‘normal’?

Erica Sandberg the Federal Reserve Bank of New York Transunion
The average American has thousands of dollars of credit card debt, with Generation X hit hardest - (AFP/Getty)

Many Americans know just how difficult it is to escape the credit card debt spiral.

Americans now owe a record $1.18 trillion on their credit cards, according to figures released this week by the Federal Reserve Bank of New York.

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