Americans' credit card debt reached a record high in the third quarter. 

<div class="block">Americans&#39; credit card debt reached a record high in the third quarter. </div>

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U.S. Credit Card Debt Hits Record $1.08 Trillion

Now to some of the other business headlines that you need to know right now, Americans credit card debt reached a record high in the third quarter. That's according to a new report by the Federal Reserve Bank of New York, it finds credit card balances increased by just under 5% or the quarter to a total of nearly $1.1 trillion. The average credit card rate is now above 20% which is also an all time high. The report finds that total household debt increased by just over 1% during the quarter.