Americans' credit card debt reached a new high this summer, according to a new report from the New York Federal Reserve released Tuesday.
Credit card balances rose by $45 billion in the second quarter, according to the report, resulting in a peak $1.03 trillion. In the first quarter, that number was $986 billion, making this a 4.6% increase. That increase came alongside an increase in total household debt over the same period to $17.06 trillion.
