Americans are carrying nearly $1.25 trillion in credit card debt, according to new Experian data, as high borrowing costs continue to put pressure on household budgets.
Total U.S. credit card balances reached about $1.246 trillion as of March 2026, up 5.4% from $1.182 trillion a year earlier. That represents an increase of roughly $64 billion in just 12 months. The number of credit card accounts also climbed 4.4% to more than 636 million.
The average consumer credit card balance rose much more slowly, increasing just 0.6% to $6,659 from $6,618 a year earlier. Experian said the small increase could be a sign that many consumers are reaching the limit of how much additional credit card debt they are willing or able to carry.
Carrying that debt remains expensive. Federal Reserve data show that credit card accounts actually assessed interest carried an average rate of about 22.15% in the latest available reporting period, while the average rate across all credit card accounts was 20.94%. At those levels, borrowers who carry balances from month to month can see interest charges add up quickly even without making new purchases.
Consumers are also using a sizable share of their available credit. Experian reported an average credit utilization rate of 28.3% in March, roughly in line with recent years. Higher utilization can weigh on credit scores, particularly for borrowers already carrying large balances or missing payments.
The latest figures suggest that credit cards remain an important financial pressure point for American households. With balances near record levels and interest rates still historically high, paying down revolving debt continues to be one of the most direct ways consumers can reduce monthly financial strain.
