Credit card debt is piling up for many Americans and a growing share of those balances are going unpaid for months.
New data from the Federal Reserve Bank of New York shows credit card debt reached $1.26 trillion in the second quarter, up $21 billion.
The share of credit card balances that are seriously delinquent has also risen, from 7.6% in mid-2022 to 12.8% in early 2026.
Ted Rossman, a principal consumer finance analyst at Money Management International, a nonprofit that helps consumers manage debt, said rising costs are putting pressure on household budgets.
“So whether we’re talking food, housing, transportation, childcare, medical care, all these things cost so much more. And for millions of Americans,…