Credit card debt hits record high as Americans struggle with cost-of-living

Credit card debt hits record high as Americans struggle with cost-of-living4 publishers · first seen Tue, 10 Nov 2026 17:16 UTC · updated Thu, 12 Nov 2026 13:15 UTCAmericans' credit card balances reached a record $1.29 trillion in the third quarter, according to the Federal Reserve Bank of New York. The average credit card balance per consumer is $6,678. Total household debt, including mortgages, auto loans, and student loans, rose to a record $19.1 trillion. The increase reflects financial hardship, with inflation outpacing wage growth for low-income brackets. Rising interest rates and the cost of living continue to strain household budgets.Content auto-generated. May contain inaccuracies.

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