US Credit Card Debt Nears Record High Amid Rising Prices

Americans' credit card debt has reached a staggering $1.26 trillion, nearing the all-time record of $1.28 trillion set in the fourth quarter of last year.

This significant increase is attributed to strong consumer spending and rising prices for essential items such as groceries and gas, according to new data from the Federal Reserve Bank of New York.

The percentage of credit card balances that were more than 90 days delinquent rose from 7.6% to 12.8% between mid-2022 and early 2026, indicating a growing concern for households struggling to make ends meet.

New York Fed researchers noted that many households live paycheck to paycheck, making it easy for them to fall behind on payments if one unexpected expense arises.