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FrontRow · Nov 10, 2026

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Americans are increasingly turning to credit cards as financial pressures mount, new reports show. Collectively, credit card balances climbed by $22 billion in the third quarter to a record $1.29 trillion, according to the Federal Reserve Bank of New York's latest household debt report, released Tuesday. Balances are up 4.2% from a year earlier. Total household debt, including mortgages, auto loans and student loans, also expanded by $334 billion for the July-to-September period to a record $19.1 trillion. "Overall debt has been growing," the New York Fed researchers said on a press call Tuesday. "This does reflect financial hardship out there."

Americans are increasingly turning to credit cards as financial pressures mount, new reports show. Collectively, credit card balances climbed by $22 billion in the third quarter to a record $1.29 trillion, according to the Federal Reserve Bank of New York's latest household debt report, released Tuesday. Balances are up 4.2% from a year earlier. Total household debt, including mortgages, auto loans and student loans, also expanded by $334 billion for the July-to-September period to a record $19.1 trillion. "Overall debt has been growing," the New York Fed researchers said on a press call Tuesday. "This does reflect financial hardship out there."

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