US credit card debt climbs to $1.26tn, nearing last year’s record high

Mortgage and student loan balances saw ‘small decline’ with increases elsewhere, says post alongside Fed report

Credit card debt in the United States is growing close to a record high, having creeped up from $54bn to $1.26tn between April and June compared with the same period last year, according to a report by the Federal Reserve Bank of New York.

That figure is just shy of last year’s record high of $1.28tn.