As of August 2026, Americans owe over one trillion dollars in credit card debt, reflecting a 60% increase from five years prior. The rise in interest rates has contributed to the difficulty in paying off this debt, leading to an increase in credit card delinquencies. Economics correspondent Paul Solman provided this analysis.
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U.S. Credit Card Debt Exceeds One Trillion Dollars Amid Rising Interest Rates
Americans' credit card debt has surpassed one trillion dollars, marking a 60% increase over the past five years. Rising interest rates are exacerbating the situation, resulting in higher rates of credit card delinquencies.
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Credit card debt surges in U.S. as high interest rates make it harder to pay off
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U.S. Credit Card Debt Exceeds One Trillion Dollars Amid Rising Interest Rates