NEW YORK—Which generation carries the most credit card debt?
With the average American household now owing $7,951 in credit card debt, according to the most recent data available from the Federal Reserve Bank of New York and the U.S. Census Bureau, Generation X and Baby Boomers are leading the way, CBS News reported.
Here's the breakdown:
- Generation X (ages 42 to 57): $8,134
- Baby Boomers (ages 58 to 76): $6,245
- Millennials (ages 26 to 41): $5,649
- Silent Generation (ages 77+): $3,316
- Generation Z (ages 19 to 25): $2,854
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