(NY Fed Q4 2024)
(TransUnion Q3 2024)
(Fed G.19 Q4 2024)
(Balance-carrying HH)
(90+ days, NY Fed)
(SCF 2022, adj.)
Total US Credit Card Debt -- Historical Trajectory
Americans collectively owe $1.21 trillion in credit card debt as of Q4 2024, according to the Federal Reserve Bank of New York. This is an all-time record, surpassing the pre-pandemic peak by over $150 billion.
| Quarter | Total CC Debt | QoQ Change | YoY Change |
|---|---|---|---|
| Q4 2024 | $1.211 trillion | +$45B | +$81B (+7.2%) |
| Q3 2024 | $1.166 trillion | +$24B | +$72B (+6.6%) |
| Q2 2024 | $1.142 trillion | +$27B | +$71B (+6.6%) |
| Q1 2024 | $1.115 trillion | -$15B | +$86B (+8.4%) |
| Q4 2023 | $1.130 trillion | +$50B | +$104B (+10.1%) |
| Q4 2022 | $1.026 trillion | +$61B | +$130B (+14.5%) |
| Q4 2021 | $0.896 trillion | +$52B | +$71B (+8.6%) |
| Q4 2020 | $0.825 trillion | +$12B | -$105B (-11.3%) |
| Q4 2019 | $0.930 trillion | +$46B | +$42B (+4.7%) |
Source: Federal Reserve Bank of New York, Quarterly Report on Household Debt and Credit.
The COVID dip and rebound: Total credit card debt dropped 11.3% in 2020 due to government stimulus payments and reduced spending. It has since surged 46.7% from the 2020 trough, adding $386 billion in four years.
Average vs. Median -- Which Number Matters?
The "average credit card debt" number depends on how you measure it:
| Measure | Amount | Source | What It Captures |
|---|---|---|---|
| Avg. per cardholder | $6,501 | TransUnion Q3 2024 | All cardholders, including those who pay in full |
| Avg. household (balance-carrying) | $10,479 | NerdWallet 2024 | Only households with revolving balances |
| Median debt | ~$3,000 | Fed SCF 2022, adj. | 50th percentile -- half owe less, half more |
| Per capita (all adults) | $4,651 | NY Fed / Census | $1.21T divided by 260M adults |
Why the median matters: The average is pulled up by high-balance accounts. The median of approximately $3,000 means half of all credit card holders owe less than this. If your balance significantly exceeds $3,000, you are carrying more debt than most Americans.
Average Credit Card APR -- Record Highs
Credit card interest rates have reached historic highs following the Federal Reserve's rate increases from 2022-2024.
| Card Type | Average APR | Range |
|---|---|---|
| All credit cards | 22.8% | 18.0%-28.0% |
| New card offers | 24.2% | 19.0%-29.9% |
| Retail/store cards | 28.9% | 25.0%-32.0% |
| Balance transfer (after promo) | 22.1% | 17.0%-27.0% |
| Penalty APR | 29.99% | 27.0%-29.99% |
Source: Federal Reserve Board, G.19 Consumer Credit Statistical Release, Q4 2024. Bankrate weekly survey.
APR Historical Context
| Year | Average APR | Fed Funds Rate |
|---|---|---|
| 2026 (current) | 22.8% | 4.25%-4.50% |
| 2023 | 20.7% | 5.25%-5.50% |
| 2020 | 16.3% | 0.00%-0.25% |
| 2015 | 15.2% | 0.00%-0.25% |
| 2010 | 14.7% | 0.00%-0.25% |
| 2005 | 13.0% | 3.00%-4.25% |
The compounding problem: At 22.8% APR, a $6,501 balance generates $1,482 in interest per year -- or $123 per month -- before any principal is paid. Even if you never charge another dollar, interest alone adds $4 per day to your balance.
The Minimum Payment Trap -- Real Math
Most credit card issuers set the minimum payment at 2% of the balance or $25, whichever is greater. Here is what happens when you pay only the minimum on the average balance:
Minimum Payment Scenario: $6,501 at 22.8% APR
What If You Paid $200/Month Instead?
What If You Filed Chapter 7 Instead?
For more on the minimum payment trap, see our detailed breakdown. For comparing bankruptcy to other options, see bankruptcy vs. settlement.
Delinquency Trends -- Who Is Falling Behind?
Credit card delinquency (90+ days past due) has risen steadily since the post-COVID lows and now exceeds pre-pandemic levels for younger borrowers.
| Period | Overall Rate | Under 30 | 30-39 | 40-49 | 50-59 | 60+ |
|---|---|---|---|---|---|---|
| Q4 2024 | 3.1% | 10.9% | 8.1% | 7.3% | 5.8% | 4.5% |
| Q4 2023 | 3.0% | 9.8% | 7.2% | 6.4% | 5.3% | 4.1% |
| Q4 2022 | 2.5% | 7.9% | 6.1% | 5.5% | 4.6% | 3.5% |
| Q4 2021 | 1.6% | 5.1% | 4.2% | 3.8% | 3.2% | 2.6% |
| Q4 2019 | 2.4% | 7.3% | 5.8% | 5.2% | 4.3% | 3.3% |
Source: Federal Reserve Bank of New York, Household Debt and Credit Report, various quarters.
The under-30 crisis: Delinquency among borrowers under 30 has risen from 5.1% (Q4 2021) to 10.9% (Q4 2024) -- a 114% increase in three years. For more on generational debt patterns, see debt by age group.
Credit Card Ownership and Usage
| Metric | Value | Source |
|---|---|---|
| Adults with at least one credit card | 83% (216M) | Fed SCF 2022 |
| Average cards per cardholder | 3.9 | Experian 2024 |
| Total open credit card accounts | 594 million | TransUnion Q3 2024 |
| Cardholders carrying a balance | 49% | Fed SCF 2022 |
| Adults revolving (est.) | ~131 million | Calculated |
| Total available credit | $4.8 trillion | TransUnion Q3 2024 |
| National utilization rate | 25.2% | TransUnion Q3 2024 |
Credit Card Debt and Bankruptcy -- 2026 Numbers
As credit card debt and delinquency rise, so do bankruptcy filings.
| Metric | 2024 | 2023 | Change |
|---|---|---|---|
| Total bankruptcy filings | 485,241 | 433,658 | +11.9% |
| Chapter 7 filings | 289,402 | 257,893 | +12.2% |
| Chapter 13 filings | 186,738 | 168,123 | +11.1% |
| CC debt as primary trigger | ~67% | ~64% | +3 pts |
Source: American Bankruptcy Institute; U.S. Courts Statistics.
Credit card debt is almost always fully dischargeable in bankruptcy. Chapter 7 eliminates it in 3-4 months. Chapter 13 may require partial repayment over 3-5 years. See When to File for thresholds and warning signs.
When New Data Is Released
This page is updated as new quarterly data becomes available from federal sources:
| Source | Report | Next Release | Covers |
|---|---|---|---|
| NY Fed | Household Debt & Credit | May 2025 | Q1 2025 |
| TransUnion | Credit Industry Insights | April 2025 | Q4 2024 |
| Federal Reserve | G.19 Consumer Credit | Monthly | Rolling |
| Experian | State of Credit | Annual (Fall) | Full year |
| Fed SCF | Survey of Consumer Finances | 2028 | 2025 data |
Bookmark this page. We update these statistics as each new quarterly report is released. The data above reflects the most recent available from each source as of April 2026.
Frequently Asked Questions
What is the total US credit card debt in 2026?
$1.21 trillion as of Q4 2024 (the most recent NY Fed data). This is an all-time record. Q1 2025 data is expected in May 2025.
What is the average credit card debt per person?
$6,501 per cardholder (TransUnion). Among households that carry balances, the average is $10,479. The median is approximately $3,000, meaning half of cardholders owe less.
What is the average credit card APR?
22.8% as of Q4 2024 -- the highest ever recorded. New card offers average 24.2%. Store cards average 28.9%.
How long does it take to pay off credit card debt at minimums?
At the average balance of $6,501 with 22.8% APR and 2% minimum payments: 18 years, 7 months. Total cost: $14,423 -- more than double the original debt.
What percentage of Americans have credit card debt?
83% of adults have at least one credit card. Of those, 49% carry a balance month to month -- roughly 131 million Americans revolving credit card debt.
Sources
- Federal Reserve Bank of New York, Quarterly Report on Household Debt and Credit, Q4 2024
- TransUnion, Credit Industry Insights Report, Q3 2024
- Board of Governors of the Federal Reserve System, G.19 Consumer Credit Statistical Release, Q4 2024
- NerdWallet, American Household Credit Card Debt Study, 2024
- Federal Reserve, Survey of Consumer Finances, 2022
- Experian, State of Credit Report, 2024
- Bankrate, Weekly Credit Card Rate Report
- American Bankruptcy Institute, Annual Bankruptcy Filing Statistics
- U.S. Census Bureau, Population Estimates, 2024