U.S. credit card debt reached a record $1.29 trillion in the third quarter of 2026, according to the New York Federal Reserve.

What it means

U.S. credit card debt reached a record $1.29 trillion in the third quarter of 2026, according to data from the New York Federal Reserve. This reflects that many households are increasingly relying on credit cards to cover basic expenses amid persistent cost-of-living pressures, with delinquency rates also climbing to their highest in nearly a decade.

Accuracy & sourcesGrounded

The claim is solid, based directly on data released by the New York Federal Reserve, a primary source. Multiple reputable news outlets (Axios, CNBC, CBS News) report the same figures, and the reporting is closely tied to the original data release.

How new

This is genuinely new as of November 10, 2026, when the data was released and reported.

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• Business Insider — first to publish