Credit card debt climbs to $1.26 trillion as ‘K-shaped’ divide persists, New York Fed research finds

Credit card balances reached $1.26 trillion in the second quarter of 2026, according to the Federal Reserve Bank of New York's household debt report. The New York Fed's research identified a divergence in debt patterns between higher-income and lower-income households. The report tracks quarterly changes in consumer borrowing across credit cards, mortgages, auto loans, and student loans.

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