Americans' credit card debt hits $1.26 trillion in Q2 2026, up $21 billion; driven by strong consumer spending, rising prices for groceries and gas; delinquencies surge from 7.6% to 12.8% since 2022

Credit card debt rises to $1.26 trillion, nearing all-time record

Credit CardsStrong consumer spending plus rising prices are factors.ByElizabeth Schulze Wednesday, August 12, 2026 10:20AMAn error has occurred. Please contact support for more assistance.DismissStrong consumer spending plus rising prices are factors.WPVIAmericans' credit card debt reached $1.26 trillion, increasing by $21 billion in the second quarter of this year, according to new data Tuesday from the Federal Reserve Bank of New York.Overall, outstanding credit card balances are now just shy...