Updated

New York Fed research found that US credit card debt climbed to a record $1.29 trillion, CNBC reported on November 10, 2026. The increase reflects many consumers relying on credit cards to cover household costs as high prices continue to strain budgets. The figure is a record for the category in the research cited by CNBC. The coverage available did not include a breakdown by borrower group, delinquency rates or any market reaction to the data.