Americans' credit card debt reaches nearly $1.3 trillion

Personal Finance Americans' credit card debt reaches nearly $1.3 trillion Mortgage balances, student loans and car loans are also up. By Yi-Jin Yu Wednesday, November 11, 2026 9:03PM Americans are carrying a record high amount of credit card debt, totaling nearly $1.3 trillion, according to a new report released by the Federal Reserve Bank of New York. Americans are carrying a record high amount of credit card debt , totaling nearly $1.3 trillion, according to a new report released by the Federal Reserve Bank of New York. The New York Fed's third quarter report for 2026 shows Americans' credit card balances have increased by about $52 billion since 2025 and now stand at around $1.285 trillion, with debt jumping approximately 62%, or $500 billion, within the last five years. Credit card debt has continued to rise since reaching $1.26 trillion in the second quarter of this year. The Board of Governors of the Federal Reserve System estimates that about 82% of adults had a credit card in 2025, and the average credit card interest rate is currently about 21%. Other loans, such as mortgages, student loans, and car loans, have also been on the rise, especially with the average price of a car now totaling about $51,000, due to inflation, global conflict, and increased energy costs, according to Edmunds and Kelley Blue Book . SS United States sinking: Final journey to become artificial reef happening today | Watch Live 2 hours ago Large home destroyed by fire in Burlington County, New Jersey 4 minutes ago Delaware County honors veterans with 67th annual parade 24 minutes ago Overall, the New York Fed notes that the total amount of household debt rose in the third quarter to about $19.1 trillion, an increase of nearly 2% or about $334 billion. For consumers looking for assistance with credit card debt, the Federal Trade Commission recommends discussing options with credit card companies, negotiating lower interest rates and proposing realistic payment plans. "Keep good records of who you talk to, what you agreed to do, and next steps," the FTC says. "Make sure they send a written version of any agreement you make -- and save it until all your payments are made, to avoid any future issues." Report a correction or typo Copyright © 2026 ABC News Internet Ventures. Related Topics PERSONAL FINANCE U.S. & WORLD CREDIT CARDS DEBT ECONOMY Small typo costs New York man thousands in unemployment benefits How to build a 'Forever Paycheck' to ease retirement concerns US stocks hover near latest record in mixed trading on Wall Street What are the financial benefits of higher interest rates? Experts explain Watch Live ON NOW LIVE: Sinking of the SS United States is underway | What to know 2 hours ago Large home destroyed by fire in Burlington County, New Jersey 4 minutes ago Delaware County honors veterans with 67th annual parade 24 minutes ago Police respond to barricade situation in Northeast Philadelphia Juvenile suffers life-threatening injuries after e-scooter crash Uber driver sentenced in rape of Villanova student AccuWeather: Turning unsettled at times tomorrow 1 hour ago Missing 11-month-old boy taken by father rescued after being buried alive: Sheriff