U.S. household debt has reached a total of $18.8 trillion, with a significant increase in credit card balances during the second quarter of the year. Outstanding credit card debt rose by $21 billion, bringing the total to $1.26 trillion, according to data from the Federal Reserve Bank of New York. This figure is now close to the all-time record of $1.28 trillion set in the fourth quarter of last year.
While strong consumer spending is a typical driver of higher credit card debt, economists also cite rising prices for essentials like groceries and gas as contributing factors. The Federal Reserve Bank of New York report, based on anonymized credit report data, indicates that many households are also experiencing increased difficulties with credit card payments.
The percentage of credit card balances that were more than 90 days delinquent increased from 7.6% to 12.8% between mid-2022 and early 2026. Researchers noted that while some delinquencies may stem from new charges, others are attributed to older outstanding debts.
In addition to credit card debt, Americans' auto loan balances also reached a new record high of $1.71 trillion. Debt on home equity lines of credit also saw an increase during the second quarter. Conversely, student debt and mortgage debt saw decreases during the same period.
The total U.S. household debt is comprised of mortgages totaling $13.12 trillion, auto debt at $1.71 trillion, student debt at $1.65 trillion, credit card debt at $1.26 trillion, and home equity lines of credit at $459 billion.