" The $67.6 billion in credit card debt that we added in Q4 2017 is the highest quarterly accumulation in the last 30 years – 68% higher than the post-Great Recession average," the study says.

Credit card debt just surpassed $1 trillion

How did we get here? At the end of 2016 and beginning of 2017, credit card companies scanned the economic landscape — new U.S. president, stable consumer confidence, new year — and made a concerted effort to increase the borrowing power of Americans.

You know that popular Oprah gif (You get a car! You get a car! You get a car!)? That's what basically happened for U.S. consumers.

A report from Transunion in the spring said that first quarter 2017 figures showed that "over 171 million consumers had access to a bankcard, the highest level TransUnion has observed since 2005." The credit-reporting agency said that of these, 16.33 million were subprime consumers.

Translation: For many of those approved to borrow, it didn’t really matter what shape their credit was in. TransUnion said the catch is that while more people got credit, they have lower spending limits, a small-print caveat that makes people think they can handle their debt.

Money expert Clark Howard says the key to paying off credit card debt is to make it a priority. "I usually find setting a goal of paying down debt in 36 months or less works best for people," he writes. "If the end goal is any further out than that, people tend to lose their focus."

The  Clark Howard guide to paying off credit card debt

“Once you decide to make your debt a priority, you need to start paying more than the minimum monthly payments. That will allow you to eliminate the debt faster, save money on interest — and most importantly, stay motivated to get the job done and behind you!” Clark says.

Credit card debt can eat you alive, if you let it. The card issuers have a vested interest in getting you to spend more and more, but it doesn’t have to be this way.

3 Clark-approved ways to tackle credit card debt

• 'Skip a payment'? No thanks: No thanks Many banks and stores will send you a promotion that lets you "skip a payment." Don't fall for it. It's just an easy way for your outstanding balance to accumulate additional interest, which adds to your debt.
• Pay up every 14 days: If you can, try to pay something on your credit card bill every 14 days. If you can sync these payments to your bill due-date cycle, you can shrink your balance much quicker.
• Don't close that card: Resist the temptation to close the credit card once you've paid it down. The three major credit-reporting agencies put a lot of credence into consumers who are able to responsibly hold onto their credit cards without going into debt. Basically, it can increase your credit score if you have credit cards with zero balance.

RELATED: Here are 3 OTHER ways to tackle your credit card debt

RELATED: Stay motivated. Join our ‘Ditch Your Debt’ Facebook group

6 rules to stay debt free

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