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See much debt the average American racked up during the holidays

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According to MagnifyMoney, the average American piled on $1,054 in debt during the holiday season.

The total represents a 5 percent increase from the same period in 2016, according to Motley Fool.

In the latest holiday season, 5 percent of customers racked up as much as $5,000 in credit card balances, according to MagnifyMoney.

Read more from Motley Fool.

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