Credit card debt hits a new record: Americans owed $1.29 trillion on their credit cards at the end of September, an increase of $22 billion in just three months and $52 billion over the past year.
Household debt keeps climbing: Total U.S. household debt reached $19.1 trillion in the third quarter of 2026, while the percentage of outstanding debt in some stage of delinquency increased.
A mixed signal for the economy: Rising credit card balances may indicate consumers are continuing to spend, but they also raise concerns that some households are increasingly relying on borrowed money to make ends meet.
Americans are putting more purchases on their credit cards, pushing outstanding balances to another record high and raising questions about the financial health of the U.S. consumer.
According to the Federal Reserve Bank of New York's latest Quarterly Report on Household Debt and Credit, released November 10, credit card balances increased by $22 billion during the third quarter, reaching $1.29 trillion.
Author: Mark Huffman
Source: Consumer Affairs
Posted: 2026-11-12 13:32:50
