According to The Kobeissi Letter, American cardholders have reached a record high in credit card debt, with the national average debt balance at $7,236 in Q3 2024, as reported by LendingTree. Connecticut, Washington DC, and California have the highest averages at $9,323, $9,209, and others respectively, indicating potential financial strain and credit risk in these regions.

According to The Kobeissi Letter, the national average credit card debt balance among cardholders with unpaid balances reached a record $7,236 in Q3 2024, as reported by LendingTree. Connecticut, Washington DC, and California had the highest averages, impacting consumer spending and potentially affecting market liquidity.