Credit card debt is piling up for many Americans and a growing share of those balances are going unpaid for months. New data from the Federal Reserve Bank of New York shows credit card debt reached $1.26 trillion in the second quarter, up $21 billion. The share of credit card balances that ar e seriously delinquent has also risen, from 7.6% in mid-2022 to 12.8% in early 2026. Ted Rossman, a principal consumer finance analyst at Money Management International, a nonprofit that helps consumers manage debt, said rising costs are putting pressure on household budgets. “So whether we’re talking food, housing, transportation, childcare, medical care, all these things cost so much more. And for millions of Americans, their paychecks have not kept pace. Even if they’re working, even if they get a raise, it’s just not enough,” Rossman said. When it comes to credit card delinquencies, Rossman said “the numbers we’re seeing this year are the worst in 16 years.” Falling behind can also have consequences beyond the next credit card bill. “Credit score damage can really prevent you from doing other things in the future. A low credit score could prohibit you from getting loans and lines of credit. Or if you do get approved, you’re going to be paying a much higher interest rate,” Rossman said. For people carrying credit card debt, Rossman recommends considering three steps that could help reduce costs and pay down balances faster. First, check whether you qualify for a zero-percent balance transfer credit card. “If you have good credit, if you have a few thousand dollars in credit card debt, that’s a great way to save money on interest,” Rossman said. Second, call your credit card company and ask whether it can lower your annual percentage rate, or APR, or offer a payment plan with a lower rate. “You can ask your bank for a break. Yeah, sometimes they will trim your interest rate,” Rossman said. Third, if you can afford it, try paying more than the minimum each month. Rossman said even an extra $100 can help pay down debt faster and save money over time. Credit card interest can add up every day, so putting even a little extra toward a balance can help reduce the amount paid in interest over time. This story was originally reported for broadcast by NBC Philadelphia. AI tools helped convert the story to a digital article, and an NBC Philadelphia journalist edited the article for publication. ...read more read less