Consumers added $28 billion in credit card debt during the second quarter of 2025, to bring the total debt to approximately $1.32 trillion, according to a Sept. 8 report from finance website WalletHub.
Not accounting for inflation, the latest numbers, as of July, set a new record, 3 percent higher than the same month in 2024. When calculating for the quarter, outstanding credit card debt for the second quarter was 2 percent below the all-time record.
The average American household debt has also gone up.
According to the New York Federal Reserve Bank, total household debt increased by $185 billion to hit $18.39 trillion in the second quarter.
“This quarter’s flow of household debt into serious delinquency was mixed across debt types, with credit card and auto loans holding steady, student loans continuing to rise, and mortgages edging up slightly,” Joelle Scally, economic policy adviser at the New York Fed, said in a statement last month….