Democracy Dies in Darkness
Personal Finance

Maxed out on your credit card? Here’s how to dig out.

New data shows that an increasing number of borrowers are hitting the 90 percent or more threshold on their credit card limits, with Gen Z leading the way.

Advice by
Columnist
May 22, 2024 at 7:00 a.m. EDT
(Washington Post illustration; iStock)
6 min

The pandemic sent people home, and less spending meant lower credit card balances.

But those historic lows are giving way to a concerning trend: A growing number of Americans are maxed out on credit cards, with Gen Z leading the way, according to a new report from the Federal Reserve Bank of New York.