U.S. credit card debt has increased. Here’s why.

U.S. credit card debt surpassed $1 trillion this week, according to new data from the Federal Reserve Bank of New York. Michelle Lambright Black, the founder of , explained the factors contributing to the increase in credit card debt among Americans and provided tips on how to pay down the balances. CBS News Streaming Network is the premier 24/7 anchored streaming news service from CBS News and Stations, available free to everyone with access to the Internet. The CBS News Streaming Network is your destination for breaking news, live events and original reporting locally, nationally and around the globe. Launched in November 2014 as CBSN, the CBS News Streaming Network is available live in 91 countries and on 30 digital platforms and apps, as well as on and Paramount . Subscribe to the CBS News YouTube channel: Watch CBS News: Download the CBS News app: Follow CBS News on Instagram: Like CBS News on Facebook: Follow CBS News on Twitter: Subscribe to our newsletters: Try Paramount free: For video licensing inquiries, contact: licensing@