U.S. Credit Card Debt Closed 2018 at a Record $870 Billion

U.S. credit card debt hit $870 billion -- the largest amount ever -- as of December 2018, according to the from the Federal Reserve. Credit card balances rose by $26 billion from the prior quarter.

"The increase in credit card balances is consistent with seasonal patterns but marks the first time credit card balances re-touched the 2008 nominal peak," according to the report.