Americans’ credit card debt rises to about $1.26 trillion, according to new data, nearing the previous all-time high of roughly $1.28 trillion set late last year. Balances increase by about $21 billion in the second quarter of the year.
Both outlets attribute the rise to the latest quarterly figures showing higher credit card balances. The reports note that the total remains just below the prior peak, indicating a continued upward trend rather than a sharp reversal. While the outlets use similar numbers and framing, they primarily differ in wording rather than substance, with each describing the same debt level, the same quarterly increase, and the same comparison point to the late-last-year record.
