Jose Luis Pelaez Inc | Digitalvision | Getty ImagesAmericans increasingly turned to their credit cards to make ends meet heading into the summer, sending aggregate balances over $1 trillion for the first time ever, the New York Federal Reserve reported Tuesday.Total credit card indebtedness rose by $45 billion in the April-through-June period, an increase of more than 4%. That took the total amount owed to $1.03 trillion, the highest gross value in Fed data going back to 2003.The increase in the category was the most notable area as total household debt edged higher by about $16 billion to $17.06 trillion, also a fresh record.”Household budgets have benefitted from excess savings and pandemic-related debt forbearances over the past three years, but the remnants of those benefits are coming to an end,” said Elizabeth Renter, data ana …
