Credit Card Debt Climbs to $1.
26 Trillion: What Latest Data Means for Consumers The Federal Reserve Bank of New York's quarterly report on household debt and credit shows that, despite a small decline in total household debt, credit card balances have surged to nearly record highs, reaching $1.
26 trillion. This trend has left many experts warning of a debt spiral that threatens millions of American households. Rising prices and high interest rates are driving this surge.