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U.S. Credit Card Debt Expected to Soar by $26 Billion

Sep 2, 2026 | 4:37 PM

Photo: Jenny Kane ~ AP

PODCAST:

Sept. 2, 2026 ~ Writer & Analyst for Wallethub.com Chip Lupo joins ‘JR Morning to talk about Wallethub projecting a $26 billion increase in credit card debt this quarter.

DETROIT, MICH. ~ According to Wallethub, U.S. credit card debt in the second quarter of 2026 is projected to have grown by $26 billion to an inflation-adjusted $1.36 trillion. Despite the uptick, total balances would remain approximately 13% below their inflation-adjusted record.

The report was released ahead of new Federal Reserve data due Sept. 8. On the positive side, 2026’s increase is 8% smaller than the increase in 2025. The report found that the average household carried $11,286 in credit card debt at the end of the quarter, $2,166 below the record.

“If you look at a post-inflationary economy where we were in right around COVID, when you had record inflation and wages not keeping up with the rate of inflation, what you were seeing were people spending more on their credit cards for everyday expenses,” Lupo said on ‘JR Morning. “Eventually what happens is that people become financially distressed, and in order to fund the rest of their household expenses, credit cards kind of get put on the back burner.”

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