Americans Are Going Into Debt to Pay for Christmas

Image credit: Magnific. Article by Hugh Cameron. Newsweek – November 11, 2026.

In driving record holiday spending, Americans are turning to borrowing and adding to the country’s already sizable pile of consumer debt. Tuesday saw the release of the New York Fed’s latest Household Debt and Credit Report, which showed that U.S. credit card balances increased $22 billion to a record $1.29 trillion in the third quarter. Aggregate delinquency rates worsened but transition rates into serious delinquency for credit cards “slightly improved,” after what researchers said was a sharp increase between 2022 and 2024. […]

Click here to view the original article at www.newsweek.com

Related articles:

Troubled US debt levels ticked up in third quarter, New York Fed report says – Yahoo Finance

Credit card debt climbs to a record $1.29 trillion, New York Fed research finds – CNBC

Homeowners are tapping home equity lines of credit at the fastest pace in decades – Quartz

Curated by John Wysocki Chief Technical Officer

See Full Bio