Credit Card Debt Rises $29 Billion In Second Quarter
By CU Today Staff —
MIAMI—Americans added $29 billion in credit card debt during the second quarter of 2026, an increase about 3% larger than during the same period a year earlier, according to a WalletHub analysis of Consumer Credit data released Tuesday by the Federal Reserve.
The increase pushed total credit card debt to approximately $1.37 trillion on an inflation-adjusted basis at the end of the quarter. Despite the quarterly increase, the total remained about 12% below the inflation-adjusted record, WalletHub said.
Preliminary July data point to continued growth on a year-over-year basis, with credit card debt up $46 billion from July 2025. After adjusting for inflation, however, WalletHub said debt was nearly unchanged from a year earlier.
The report comes as attention turns to the Federal Reserve’s Sept. 16 rate decision. WalletHub estimates a 25-basis-point increase in the federal funds target rate would add approximately $2 billion to credit card interest costs over the following 12 months.
Originally reported by CU Today.