Americans have racked up record credit card debt ahead of the holidays. Over a trillion dollars on their credit cards is now owed nationally. That's according to a new report on household debt from the Federal Reserve Bank of New York. It found that credit card balances spiked by over $150-billion year over year. It's the largest increase this century. Credit card delinquency rates also went up, especially among millennials burdened with high levels of student loan debt. Bankrate analyst Ted Rossman says high inflation and record-high credit card rates are key contributors. "More people are using credit cards just to get by."