US credit‑card debt hit $1.26 trillion in Q2
Federal Reserve figures show a $21 billion quarterly rise and a jump in delinquencies over 90 days.
U.S. credit‑card debt reached $1.26 trillion in the second quarter of this year, moving close to the record $1.28 trillion registered at the end of last year.
According to Federal Reserve data, the outstanding balance rose by $21 billion over three months, a gain economists link to strong consumer spending and higher prices for food, fuel and other essentials.
The share of credit‑card balances more than 90 days delinquent climbed from 7.6 percent in mid‑2022 to 12.8 percent at the start of this year, underscoring growing stress for some households.
Household debt composition
Total U.S. household debt stood at $18.8 trillion. The largest component remains mortgages, at $13.12 trillion, followed by auto loans at $1.71 trillion (a new record), student loans at $1.65 trillion, and credit‑card debt.
Analysts note the combination of rising living costs and elevated borrowing has pushed balances higher, with delinquencies particularly sensitive to changes in income and interest rates.
Photo: EPA-EFE/DAN PELED / илустрација
