US Credit Card Debt Hits Record $1.26 Trillion

According to newly released figures, American consumers' credit card balances have reached an all-time high of $1.26 trillion, extending a multi-year climb fueled by inflation and costly borrowing. Card interest rates remain near multi-decade highs, raising the cost of carrying a balance for millions of households. Analysts point to a growing share of delinquent payments, particularly among younger borrowers and lower-income families. The trend is worrying economists because consumer spending remains a key engine of US economic growth. Rising debt loads could eventually constrain future spending and factor into the Federal Reserve's policy decisions. For markets, the data serves as an important barometer of how resilient American households remain amid a stretched economic cycle.