US credit card debt climbs to $1.26tn, nearing last year’s record high
Summary
Credit card debt in the United States rose to $1.26 trillion in the second quarter of 2026, close to last year’s record of $1.28 trillion. At the same time, more people are falling behind on their credit card payments, and auto loan borrowing also reached a new high.Key Facts
- U.S. credit card debt increased by $54 billion compared to the same period last year, reaching $1.26 trillion.
- This amount is near the previous record high of $1.28 trillion set last year.
- Credit card debt grew by $21 billion, or 1.7%, from the first quarter to the second quarter of 2026.
- The share of credit card debt more than 90 days past due rose from 7.6% in late 2022 to 12.8% in early 2026, showing more people are late on payments.
- Overall, 4.7% of total household debt was behind on payments between April and June 2026, slightly down from 4.8% in the prior quarter.
- Other types of debt like mortgages and student loans saw a slight decline in balance.
- U.S. consumers took out a record $211 billion in auto loans between April and June 2026.
- Inflation remains relatively high, making it harder for families to pay bills, often causing them to rely on credit cards.
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