U.S. households will soon have as much debt as they had in 2008

It looks like American consumers are getting very friendly with their credit cards again.

The Federal Reserve announced Friday that the U.S. collectively has $1 trillion in credit card debt. Consumers had already hit that number in the fourth quarter of 2016, but eased on revolving credit during January 2017. The Fed announcement showed revolving consumer credit hit more than $1 trillion once again in February 2017.

“Credit card debt is rising quickly, but delinquencies are still really low,” said Matt Schulz, a senior industry analyst at the credit cards site CreditCards.com. “Many Americans are doing a good job of controlling their debts, but eventually with big debts and rising interest rates, it’s likely that something will have to give.

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