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One sure-fire prediction for 2018: Americans will take on even more debt

December 18, 2017

Perhaps Americans should add “paying off debt” to their New Year’s resolution lists. This year marked an unwelcome milestone for consumers, with credit card debt reaching a new high. As of June 2017, Americans owe a record $1 trillion on their credit cards

To make matters worse, many American households are having trouble paying off that credit-card debt, according to a new study from credit reporting agency TransUnion TRU, +0.13%.

Delinquencies on credit card balances are expected to rise in 2018, despite an improving economy. “It’s really striking how much credit-card debt is weighing on American households,” said Kimberly Palmer, a credit-card expert at the personal finance company NerdWallet.

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