US Credit Card Debt Hits Record $1.29 Trillion

Key Facts

US credit card debt reached a record $1.29 trillion according to New York Fed research. CNBC reported that this climb to historic levels occurs as consumers face sustained high prices, forcing many households to rely on credit cards to cover their daily expenses.

These record debt levels coincide with persistent economic challenges, as data released on November 10, 2026, showed the monthly inflation rate at 0.4%, exceeding the 0.3% forecast. The Super Core CPI also rose by 0.44% on the same date, highlighting the inflationary pressures that continue to strain the financial health of US consumers.

Looking ahead, Initial Jobless Claims data is scheduled for release on November 12, 2026, with forecasts pointing to 195,000 claims. Existing Home Sales data will also be released on the same day, providing further insight into economic resilience amid these record-high debt levels.