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Credit Card Debt Statistics in the US

Americans owed $1.26 trillion on credit cards in mid-2026, at average rates above 22% for people who carry a balance. Here's what the latest Federal Reserve data shows.

By CreditCardDebt Staff3 min read

Americans owed $1.263 trillion on credit cards in the second quarter of 2026, according to the Federal Reserve Bank of New York. That’s up $21 billion from the first quarter and only slightly below the record set at the end of 2025. For cardholders who carry a balance, the average interest rate is about 22%.

The figures below come from Federal Reserve sources and are the latest available as of October 2026.

The big numbers

Measure Latest figure Source
Total credit card balances $1.263 trillion (Q2 2026) New York Fed
Total household debt (all types) $18.77 trillion (Q2 2026) New York Fed
Average APR, accounts paying interest 22.15% (Q2 2026) Federal Reserve G.19
Average APR, all card accounts 20.94% (Q2 2026) Federal Reserve G.19
Revolving consumer credit outstanding $1.35 trillion (August 2026) Federal Reserve G.19
Adults who’d cover a $400 emergency with cash 63% (2025) Federal Reserve SHED survey

The two measures of debt differ because they’re collected differently. The New York Fed figure comes from anonymized credit reports, while the G.19 revolving credit figure comes from lenders and includes some other revolving lines.

What the numbers mean

Balances are near a record, but household debt overall is flat. Total household debt actually dipped by $13 billion in the second quarter, mostly because mortgage balances fell. Card balances moved the other way. Credit cards are a small slice of what households owe in total, around 7%, but they’re by far the most expensive slice.

Interest rates are the real story. The gap between the two APR figures is telling. Across all accounts, including people who pay in full and never pay interest, the average rate is about 21%. Among accounts actually charged interest, it’s about 22%. At that rate, a $5,000 balance costs roughly $90 a month in interest alone. What Paying Only the Minimum Really Costs shows how that adds up over years.

Some people are falling behind. The New York Fed tracks how much card debt moves into serious delinquency, meaning 90 or more days late, each year. In Q2 2026 that annualized rate was 6.97%, about the same as a year earlier. That’s steady rather than rising quickly. The New York Fed has also noted that a reported jump in the share of balances that are seriously delinquent partly reflects older, charged-off debts lingering on credit reports rather than a fresh wave of missed payments.

Many households have little cushion. In the Federal Reserve’s 2025 survey of household finances, 63% of adults said they’d cover a $400 unexpected expense with cash or its equivalent, the same as the year before. Among those who wouldn’t, the most common answer was to put it on a credit card and carry the balance, and 12% of all adults said they couldn’t pay it at all. That’s how a lot of card debt starts: not with luxuries, but with a car repair or a medical bill.

Why it matters for you

National averages don’t tell you much about your own situation, but they’re useful for comparison. If your card’s rate is well above 22%, it’s worth calling the issuer to ask for a reduction (here’s how) or comparing a balance transfer or consolidation loan. The Fed’s G.19 data shows the average 24-month personal loan at commercial banks was 11.86% in Q2 2026, about half the typical card rate, though your own rate depends on your credit.

If you’re carrying a balance you can’t see the end of, these are good places to start:

The Federal Reserve publishes new data regularly, so check the sources below for the most recent figures.

Sources

This article is for educational purposes and is not financial advice.