According to the Federal Reserve Bank of New York's latest report released on November 11, U.S. household credit card balances reached $1.29 trillion in Q3 2026, hitting a record high. The debt increased by $22 billion from the previous quarter, driven by elevated inflation and rising living costs that have forced families to rely more on credit cards for daily expenses. TransUnion reported that the average credit card balance per consumer stood at $6,678, up 2.4% year-over-year, reflecting continued pressure on household finances.

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