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Americans' credit card debt surged to $1.26 trillion, nearing an all-time record

Balances rose $21 billion in the second quarter, leaving total card debt just shy of the $1.28 trillion peak set late last year

Credit: Pixabay /  Pexels

Americans' credit card debt climbed to $1.26 trillion in the second quarter of 2026, according to the Federal Reserve Bank of New York's Quarterly Report on Household Debt and Credit, released Tuesday. The $21 billion quarterly increase left total card debt at $1.26 trillion, just shy of the $1.28 trillion peak reached in the fourth quarter of last year, according to ABC News.

Total U.S. household debt edged down $13 billion in the second quarter to $18.8 trillion.........

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