Key facts
- Gen Xers aged 45-54 now hold the largest credit card balances, surpassing those aged 64-75.
- Their inflation-adjusted credit card balances rose from $3,300 in 2022 to $5,100 in 2025.
- This cohort has the highest median pre-tax income at nearly $109,000.
- Despite high incomes, their median net worth fell from $270,000 to $255,000 between 2022 and 2025.
- Older Americans (75+) saw their median net worth increase to nearly $505,000.
Gen Xers, aged 45 to 54, are accumulating more credit card debt than any other age group, even as their incomes reach record highs. According to the Federal Reserve's latest data, this demographic held the largest credit card balances as of 2025, surpassing individuals aged 64 to 75.
This trend contrasts with younger millennials (ages 35 to 44), who have been actively reducing their debt. Consumer sentiment among the 35- to 54-year-old cohort, which includes both millennials and Gen X, has fallen below that of their younger and older counterparts, coinciding with the rise in their credit card balances.
For those aged 45 to 54, inflation-adjusted credit card balances increased from approximately $3,300 in 2022 to around $5,100 in 2025. Despite these growing debts, this group remains the highest-earning demographic, with a median pre-tax income of nearly $109,000, according to the Survey of Consumer Finances. This income level is the highest ever recorded in the dataset after inflation adjustment.
However, Gen X's overall wealth, particularly in assets like stocks and retirement accounts, has not kept pace with their earnings or with the gains seen by older generations. While the median value of directly held stocks for Americans aged 75 and older has significantly increased, the stock holdings for the 45- to 54-year-old group remain below 2019 levels. The median net worth for those 75 and older rose from about $366,000 to nearly $505,000, whereas the 45-54 group saw its median net worth decrease from around $270,000 to $255,000.
This disparity suggests that the generational wealth gap is manifesting not just in income, but in investment performance and the ability to manage rising costs through credit.