economy
February 10, 2026
Credit card debt tops $1.28 trillion
Collectively, Americans owe $1.28 trillion on their credit cards, according to a new report by the Federal Reserve Bank of New York.
TL;DR
- Credit card balances hit a record $1.28 trillion in Q4 2025, up 5.5% year-over-year.
- Fewer consumers expect their financial situation to improve, with more anticipating it to worsen.
- The 'K-shaped' economy is evident, with higher-end consumers driving spending while others struggle.
- Delinquency rates for auto loans, credit cards, and mortgages are rising, especially in low-income areas.
- 55% of consumers carry credit card balances to cover essential expenses.
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