American households are falling deeper into debt, reaching another all-time high last year of more than $1 trillion in outstanding revolving credit — also known as credit-card debt. That’s a 6% jump from the year before and a 20% increase since 2013.
On Tuesday, the Federal Reserve Bank of New York released data showing that total household debt increased by 1.5% to $13.15 trillion in the fourth quarter of 2017, making the fifth consecutive year of annual household debt growth. There were increases in mortgage, student, auto, and credit-card debt.
