​Americans have dug themselves into a credit card hole 

Economy

Americans have dug themselves into a credit card hole

Jennifer Sor

2025-01-18T13:30:02Z

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Getty Images; Jenny Chang-Rodriguez/BI

America’s credit card debt has surged, and distress could peak this year.Banks could write off the largest share of credit card loans since 2011, finance experts predict.Debt distress will be driven by weaker consumer finances, thanks to elevated inflation and int