Chances are you traveled more last year than you did the year before, and you’re more than likely to be planning even more travel this year. But more and more of us are paying for that travel with credit cards at very high interest rates and not paying our bills in full every month.

As a result, consumer credit card debt has now reached $1.1 trillion. That’s up $24 billion in just the last three months! 

Perhaps even more alarming, more and more Americans are defaulting on their bills. Banks are now writing off credit card debt at the highest level since 2010. That’s more than $45 billion, a whopping 46% increase from just a year ago.

A word to the wise: With credit card interest rates averaging 24%, before your next trips of 2025, try and budget accordingly.