© 2024 South Carolina Public Radio
Play Live Radio
Next Up:
0:00
0:00
0:00 0:00
Available On Air Stations
South Carolina Public Radio's offices will be closed Monday, May 27, in observance of the Memorial Day holiday. Our local news and programming will return Tuesday, May 28.

American credit card debt passes $1 trillion

FILE - Consumer credit cards are posed in North Andover, Mass., March 5, 2012. The Consumer Financial Protection Bureau is considering a new rule that would slash credit card late fees by 75%, from current highs of up to $41 to as low as $8. (AP Photo/Elise Amendola, File)
FILE - Consumer credit cards are posed in North Andover, Mass., March 5, 2012. The Consumer Financial Protection Bureau is considering a new rule that would slash credit card late fees by 75%, from current highs of up to $41 to as low as $8. (AP Photo/Elise Amendola, File)

American credit card debt passed $1 trillion this week, having broken the previous record for national credit card debt a few months ago. To put that in perspective, $1 trillion in bills end to end would stretch past the sun from Earth.

It’s another milestone that appears alarming on the surface — but what is the story behind that debt?

We find out from Washington Post personal finance columnist Michelle Singletary as well as getting advice on how to handle debt.

This article was originally published on WBUR.org.

Copyright 2023 NPR. To see more, visit https://www.npr.org.