(ABC News) U.S. consumers’ total credit card debt exceeded $1 trillion for the first time, according to a new study by the personal finance website WalletHub.
Consumers took on an additional $92.2 billion in debt last year, the highest single-year amount since 2007. The average U.S. household owes $8,600 on credit cards, WalletHub found.
The accumulation of debt reflected Americans' confidence in the economy, according to Jill Gonzalez, a senior analyst at WalletHub.
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