Credit card debt at US commercial banks hits record $1.09 trillion
Credit card debt at US commercial banks has reached a record high of $1.09 trillion. This increase comes as Americans continue to rely heavily on credit cards, with average interest rates exceeding 21%. Despite a slight decrease in overall household credit card balances, the trend indicates a growing reliance on credit amidst rising costs.
- ▪US commercial banks hold a record $1.09 trillion in credit card debt as of May 2026.
- ▪Household credit card balances decreased to $1.25 trillion in the first quarter of 2026, down from a peak of $1.28 trillion in Q4 2025.
- ▪The average interest rate on credit cards has remained above 21% in recent quarters.
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Credit card debt at US commercial banks hits record $1.09 trillion Americans are putting more on plastic than ever before, and the interest rates they're paying to do it are brutal. Share Add us on Google by Editorial Team May. 28, 2026 window.sevioads = window.sevioads || []; var sevioads_preferences = []; sevioads_preferences[0] = {}; sevioads_preferences[0].zone = "01f21ccf-2092-46b1-9ac7-8c44cc782e0f"; sevioads_preferences[0].adType = "native"; sevioads_preferences[0].inventoryId = "c5700508-581b-472c-8fdd-a931cdbfc8e1"; sevioads_preferences[0].accountId = "1e47efc1-ec2d-4fca-a8b9-354e249e5095"; sevioads.push(sevioads_preferences); US commercial banks are now sitting on more credit card debt than at any point in history.
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