Americans hold more credit-card debt than ever, and a ‘major tipping point’ isn’t far off

Outstanding revolving credit, which includes credit-card debt, rose to $1.02 trillion in June, according to a monthly report from the Federal Reserve released Monday. Business Insider/Andy Kiersz, data from Bloomberg Besides the New York Fed, several credit-card providers are reporting a rise in defaults. Synchrony Financial, one of the largest providers of store cards, said […]