Credit card debt hits record high as Americans struggle with cost-of-living
Summary
U.S. credit card balances reached a record $1.29 trillion in the third quarter of 2026, while total household debt rose to $19.1 trillion. The share of credit card debt becoming seriously delinquent edged down nationally, but delinquency remained higher in lower-income neighborhoods.Key Facts
- Credit card balances increased by $22 billion, or 1.7%, in the third quarter and were $52 billion higher than a year earlier.
- The figures are not adjusted for inflation, so higher prices account for some of the increase.
- Total household debt, including mortgages, student loans and auto loans, rose by $334 billion to $19.1 trillion.
- The rate at which credit card debt became seriously delinquent fell to 6.9% in the third quarter, from 7.0% in the prior quarter; it was 5.2% before the pandemic.
- In the lowest-income neighborhoods, 10.3% of credit card balances became seriously delinquent over the past year, compared with 4.4% in the wealthiest neighborhoods.
- The average credit card balance per borrower was $6,678, according to TransUnion.
- Borrowers under 30 had the highest rate of credit card debt newly becoming at least 90 days overdue.
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