5 signs you may not know you’re drowning in credit card debt
American households are facing a mounting financial burden as credit card balances hit record highs. The Federal Reserve Bank of New York reports that total outstanding credit card debt climbed to $1.26 trillion during the second quarter of 2026. This figure represents a $54 billion surge compared to the previous year. While credit cards offer benefits like purchase protections, rewards, and the convenience of avoiding cash for those who pay in full, many consumers find their balances expanding more quickly than their ability to settle them. This debt often accumulates slowly, making the warning signs difficult to detect until the pressure becomes overwhelming.
Rising Balances and Consumer Decisions
A study conducted by Accredited Debt Relief, which surveyed a representative group of 2,000 American
Source: nypost.com · 2026-10-24