NEW YORK—Americans continue to pile on the credit card debt.
The country's outstanding credit card and other types of revolving debt have jumped almost 20% from a decade ago, reaching an all-time high of about $1.1 trillion, according to a recent study from CompareCards.
The average balance on a credit card is now almost $6,200, and the typical American holds four credit cards, according to Experian, USA Today noted.
Credit card issuers are also giving Americans more room to run up debt, boosting the typical credit limit by 20% over the last decade to $31,000, USA Today said.