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. 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. By Yi-Jin Yu Wednesday, November 11, 2026 9:03PM Share Follow ABC7 on Google 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 . 2 killed, 1 hurt after Amtrak train crashes into car on track in Western Springs 1 hour ago SS United States live stream: Historic vessel to be sunk, become world's largest artificial reef off Florida coast 40 seconds ago Former NFL coach Rex Ryan surrenders on hit-and-run charges involving 2 pedestrians 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 US stocks hover near latest record in mixed trading on Wall Street Americans are using buy now, pay later more than ever $1 million winning ticket sold at northwest suburban Jewel-Osco Watch Live ON NOW 2 killed, 1 hurt after Amtrak train crashes into car in west suburbs 1 hour ago SS United States live updates: Iconic vessel to be intentionally sunk 40 seconds ago Former NFL coach Rex Ryan surrenders on hit-and-run charges Rep. Jackson says he couldn't vote to impeach Hegseth due to traffic 44 minutes ago Family of cruise murder victim describe her as devoted mother 2 hours ago Bears linked by DNA to deadly attack on mother and daughter 2 hours ago Teen charged in killing of Javits Frimpong, 15-year-old immigrant shot in the Bronx 2 hours ago 19-year-old man found fatally shot in NW Side alley: Chicago police 15 minutes ago