Consumers reduced credit card balances by $29 billion in the first quarter, bringing the total to $1.18 trillion, and overall non-housing balances also saw a decline of $38 billion. Other consumer debt, including retail card balances, fell by $12 billion, while student loan balances grew by $16 billion, reaching a total of $1.63 trillion. Advertisement: Scroll to ContinueCredit card balances fell by $29 billion to $1.18 trillion, although they remain 6.01% higher than a year ago. Credit card delinquencies also increased, with the rate of delinquencies over 90 days climbing to 12.3%, an 8.5% rise from Q4 2024 and the highest since Q1 2011. Among consumers under 30, serious credit card delinquencies reached 10.3%, a 4.4% increase from a year ago.