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Credit card debt tops $1.28 trillion — consistent with ‘K-shaped’ economic divide, New York Fed research shows

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Americans ended 2025 more in debt than ever before. Credit card balances hit a fresh high in the fourth quarter, rising by $44 billion to $1.28 trillion, according to a new report on household debt by the Federal Reserve Bank of New York released Tuesday. That's a 5.5% jump from a year…

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