Credit card debt in the US has reached a record high.

VTV.vn - The credit card debt situation in the US is at an alarming level, with total outstanding debt reaching a record $1.25 trillion in the first quarter of 2026, leading to the highest delinquency rate in the past 15 years.

Credit card debt in the US has reached a record high.

The reason is pressure from inflation and rising interest rates. According to data from the Federal Reserve Bank of New York, the percentage of credit card balances overdue by at least 90 days has risen to 13.12%. This is the highest level since the 2008 financial crisis. Total US credit card debt has surged from $1.18 trillion in the first quarter of last year to $1.25 trillion in the first quarter of this year. Meanwhile, average interest rates on credit cards have also increased.

According to experts at the Urban Institute, as food, housing, and healthcare prices all rise, people are forced to make difficult choices. They often prioritize paying utility bills or rent and tend to stop paying off credit card debt first.

The data also shows that in 2025, 5.6% of cardholders were 60 days or more overdue on payments, surpassing pre-pandemic levels. The rate of 60-day overdue payments in low-income areas reached 8% – the highest among all income groups.

Debt pressure isn't limited to low-income earners; it's spreading to high-income earners as well. Catherine Clarke, the chief operating officer at a New England hospital, earns $194,000 but faces $15,000 in debt with a 26% interest rate.

Similarly, medical assistant Melissa Meggieson in South Portland, Maine, saw her credit card debt skyrocket to over $20,000 in just nine months after her divorce.

Bruce McClary, a spokesperson for the National Foundation for Credit Counseling, said that middle-class households are increasingly shifting to a "debt-for-survival" model.

Economist Scott Schuh of West Virginia University warns that paying only the minimum monthly amount could leave borrowers perpetually in debt, especially as interest rates soar.

Currently, Americans are carrying an average of $6,500 to $6,700 in credit card debt. Approximately 25% of cardholders in high-income communities have balances exceeding $10,000, highlighting the financial burden that is affecting all segments of society.

Source: https://vtv.vn/no-the-tin-dung-tai-my-cham-moc-ky-luc-100260530053537402.htm