US Credit Card Debt Hits Record $1.26 Trillion Amid Soaring Delinquencies

Credit card debt in the United States has reached an all-time high of $1.26 trillion, according to recent data from the Federal Reserve Bank of New York.

The delinquency rate for credit cards has also surged, with 13.1% of balances at least 90 days past due as of the first quarter of 2026. This represents a significant deterioration since the aftermath of the 2008 financial crisis, when similar levels were last seen in late 2011.

The rise in delinquencies is attributed to several factors, including inflation and persistently high interest rates on credit cards, averaging around 21% as of early 2026. Many consumers have taken on additional debt to manage rising living costs, even as their ability to service existing obligations has weakened.