New report finds Americans owe more than a trillion dollars on credit cards

The video discusses the rise in credit card debt in the US, reaching a record $1.7 trillion. Despite this, delinquency rates have improved. Surveys reveal that many Americans' debt levels remain unchanged, while others cite economic challenges as reasons for increased borrowing. High interest rates make credit cards an expensive borrowing option. Demographic data shows Gen X carries the most debt, while Gen Z has the least. Alternatives like 'buy now, pay later' are gaining popularity. Experts advise setting spending limits to manage debt effectively.

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