Credit Card Debt of Americans Now Totals $1.32 Trillion: Report

Although credit debt has gone up, the amount of money saved has significantly improved over the past 20 years.

Dollar bills and credit and debit cards in Washington on Oct. 4, 2024. Madalina Vasiliu/The Epoch Times

Consumers added $28 billion in credit card debt during the second quarter of 2025, to bring the total debt to approximately $1.32 trillion, according to a Sept. 8 report from finance website WalletHub.

Not accounting for inflation, the latest numbers, as of July, set a new record, 3 percent higher than the same month in 2024. When calculating for the quarter, outstanding credit card debt for the second quarter was 2 percent below the all-time record.