American credit card debt has hit a record $1.0217 trillion, according to the Federal Reserve. The previous record was set a decade ago ahead of the 2008 financial crisis.
American are clearly spending more, and yet retailers like Macy's (M) and J.C. Penney (JCP) continue to struggle, closing multiple stores every year. Is Amazon (AMZN) the one cashing in or are you swiping your card for something else?
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Editors' Note: Originally published on August 10, 2017.