US Credit Card Debt Climbs to $1.26 Trillion as Delinquency Rate Hits 12.8%
Updated
Updated · abcnews.com · Aug 11
US Credit Card Debt Climbs to $1.26 Trillion as Delinquency Rate Hits 12.8%
3 articles · Updated · abcnews.com · Aug 11
Summary
$21 billion in second-quarter growth pushed Americans' credit card balances to $1.26 trillion, just below the $1.28 trillion record set in late 2025, New York Fed data showed.
Strong consumer spending and higher prices for essentials such as groceries and gas helped drive balances higher, while researchers said worsening delinquencies largely reflect older debt rather than new charges.
12.8% of credit card balances were more than 90 days delinquent in early 2026, up from 7.6% in mid-2022, underscoring strain on households living paycheck to paycheck.
Across household borrowing, total US debt reached $18.8 trillion; auto loans rose to a record $1.71 trillion and home equity lines increased, while student and mortgage debt fell.