News

Actions

US credit card debt to surpass $1 trillion this year, report says

Credit card debt expected to top $1 trillion in 2017
Posted
and last updated

Credit card debt in the United States is $8,038 per household or $940.2 billion total, according to the latest report from the Federal Reserve.

That number is up from $885.4 billion at the same time in 2016.

That $940 billion comes after a big reduction in the first quarter when people typically use annual salary bonus payouts and financially motivated New Year’s resolutions to knock down debt.

The rest of the year, however, the United States uses its time spending and adding to the debt.

An analysis from WalletHub is predicting an additional $60 billion in new credit card debt in 2017, which would easily push the United States over the $1 trillion mark.

Sign up for our Morning E-mail Newsletter to receive the latest headlines in your inbox.

,

Weather

Daily Forecast

View Hourly Forecast

Day

Conditions

HI / LO

Precip

Wednesday

10/22/2025

Mostly Clear

-° / 57°

6%

Thursday

10/23/2025

Clear

75° / 55°

4%

Friday

10/24/2025

Mostly Clear

79° / 55°

3%

Saturday

10/25/2025

Partly Cloudy

76° / 55°

9%

Sunday

10/26/2025

Mostly Clear

73° / 54°

4%

Monday

10/27/2025

Clear

74° / 54°

3%

Tuesday

10/28/2025

Clear

75° / 54°

3%

Wednesday

10/29/2025

Mostly Clear

78° / 56°

3%