Americans Are Carrying More Credit Card Debt Than Ever Before

Credit card debt is something that is relatively new, having been introduced in 1950 with the Diners Club Card as the first modern day credit card.

A few decades later and people in America are swimming in credit card debt, and some states and towns are racking up more debt than others.

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There are plenty of reasons for having debt; from keeping up with the Jones, to having to use a credit card to make it through the lean times.

In fact, right now Americans hold the highest amount of credit card debt they've ever had in the entire history of it, and it probably won't come down for some time.

It's a number that will make your head spin, 988 BILLION as of 2023; and with the cost of goods continuing to rise, so will the amount of debt.

Who Has the Most Debt Per Age Bracket?

An infographic showing what age groups have the most credit card debt
Infographic via CNBC
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As far as who has the most debt, that would be Gen X'ers.

An age group that is currently at a point in their life where they are assisting their elderly parents, while also putting their kids through college.

It's not getting any easier to pay off either thanks to interest rates that can be as high as 20% these days.

What Montana City Has The Worst Credit Card Debt?

When it comes to the city with the worst amount of credit card debt that would be none other that Bozeman.

According to Stacker, Bozeman on average has a credit card debt of $12,092 per household.

Meanwhile Saddle Butte has the lowest amount of debt for Montana cities with an average of just $8,861 per household.

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