Credit Card Debt Hits Record, Card Company Stocks Soar

Investing.com - American credit card debt is back at a record high and card company stocks have plenty to show for it.The latest figures from the U.S. Federal Reserve put revolving credit, which includes credit cards, at $1.023 trillion dollars.That's higher than it was in 2008, right before the onset of the financial crisis and Great Recession.Investors, however, have plenty to cheer. The stock prices of major credit card companies have also been hitting record highs.Shares in the top two card companies -- Visa and MasterCard -- both rose about 50% in 2017 alone, more than double the gain of the benchmark S&P 500.American Exprerican shares have gained more than a third during that time.