U.S. credit card debt has hit a record $930.6 billion

U.S. credit card debt has hit a record $930.6 billion.

CNBC initially reported this, with the balance rising $5,805 over that same period, TransUnion found.

Overall, an additional 202 million new credit accounts were opened in the fourth quarter, led by originations among Generation Z, or adults ages 18 to 25, and the tally of total credit cards hit a record 518.4 million.

In November, US credit-card debt increased the most in 20 years.

Credit card balances climbed more than 15% from a year earlier, the largest annual jump in more than 20 years.

“With prices more than 8% higher than they were a year ago, it is perhaps unsurprising that balances are increasing,” the Fed researchers wrote in a blog post. “The real test, of course, will be to follow whether these borrowers will be able to continue to make the payments on their credit cards.”

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