Average consumer carries $6,329 in credit card debt

The average credit card debt balance is $6,329, according to a report by TransUnion found.

The credit card debt Q1 2024 is up 4.8% compared to last year Q1 2023.

Over the last year, approximately 9.1% of credit card balances transitioned into delinquency and 8.0% of auto loan balances transitioned into delinquency, according to the New York Fed.

TransUnion: "The report reveals that in this challenging current macroeconomic environment, consumers are continuing to engage in the credit market, taking on more balances and credit products. And while prime and below consumers are seeing lower year-over-year (YoY) new originations across many products, though not all, they continue to use their available credit to get by each month as evidenced by YoY growth in credit card balances and utilization."

Credit card debt and delinquencies are on the rise, reports find - CNBC

Anticipating Future Fed Interest Rate Cuts, Consumers Continue to Use Existing Credit, Gain Access to New Lines - TransUnion news room