Credit card debt just climbed to $1.26 trillion, according to the latest Federal Reserve Bank of New York household debt report. That number sounds enormous because, well, it is, but the more useful question for anyone carrying a balance is what happens next.
The latest data offer a mixed picture rather than a flashing red warning light. Credit card balances increased, while the rate at which borrowers slipped into early delinquency stayed relatively steady. For households juggling groceries, utility bills, car repairs and the occasional “how did that cost that much?” purchase, those details matter far more than a giant headline number.
