Americans owe $1.26 trillion on credit cards. If part of it is yours, you’re not alone.
What the latest Federal Reserve numbers show — and what options exist if you’re carrying $10,000 or more in credit card or unsecured personal loan debt.
The numbers behind the stress
Official figures from the Federal Reserve. Every number links to its source.
$1.26T[1]
Total U.S. credit card balances in mid-2026
22.36%[2]
Average interest rate on credit card accounts charged interest
45%[3]
of credit card holders carried a balance at least once in the past year
59%[4]
of adults faced at least one major unexpected expense in the past year
Why the balance can feel stuck
At the average rate of 22.36%, a $10,000 balance adds about $186 in interest every month.[2] When so much of each payment goes to interest, the balance can barely move — even if you never miss a payment.
- Balance
- $10,000
- Average rate
- 22.36%
- Interest per month
- ≈ $186
Illustrative calculation: $10,000 × 22.36% ÷ 12 months. Your actual interest depends on your card’s terms.
65%
of the growth in credit card balances came from people who said they were “just getting by” or “finding it difficult to get by.”[3]
This happens to hardworking people every day
A car repair, a medical bill, rising prices at the grocery store — credit card debt usually builds for ordinary reasons. In the Federal Reserve’s latest survey, people who said they were “just getting by” or “finding it difficult to get by” accounted for 65% of the growth in credit card balances.[3]
Carrying debt doesn’t mean you did something wrong. It does mean it’s worth knowing your options.
See if you may qualify
Answer a few quick questions. It takes about 30 seconds, and your answers stay private.
How much credit card or unsecured personal loan debt do you have?
What is a debt settlement program?
In a debt settlement program, a provider negotiates with your creditors on your behalf to reduce the amount you owe on unsecured debts.[5] It can be an option for people with large credit card balances who have steady income but feel stuck.
Eligibility requirements
- $10,000 or more in unsecured credit card or personal loan debt
- Steady income or employment
- Currently making your payments
- Able to make a monthly payment of at least $250
These requirements are set by the program provider. The $10,000 and $250 amounts are eligibility requirements, not estimates of savings or results.
How it works
1
Answer a few questions
About 30 seconds.
2
Call to speak with a specialist
A short, no-obligation conversation.
3
Learn your options
Find out whether a program fits your situation.
Taking the first step is often the hardest part.
It’s one free, confidential conversation — with no obligation either way.
Important information: Debt Help Hotline is a free referral service. We are not a debt settlement company, lender, or law firm, and this is not a government program. If you qualify, we connect you by phone with a third-party debt settlement provider. Debt settlement is not right for everyone. Participating may negatively affect your credit score, and creditors are not required to agree to a settlement. You may continue to receive collection calls, and creditors may take legal action while you are enrolled. Any portion of debt you do not have to repay may be considered taxable income; consult a tax professional. The provider charges fees only after a debt has been settled. Not all debts are eligible, results vary, and savings are not guaranteed. Program length varies. Not available in Georgia, Idaho, Minnesota, or North Dakota. A minimum of $10,000 in unsecured credit card or personal loan debt and proof of income are required.
Sources
- [1]Federal Reserve Bank of New York, Quarterly Report on Household Debt and Credit, Q2 2026
- [2]Federal Reserve, G.19 Consumer Credit (August 2026 data)
- [3]Federal Reserve, Economic Well-Being of U.S. Households in 2025: Credit
- [4]Federal Reserve, Economic Well-Being of U.S. Households in 2025: Fact Sheet
- [5]Consumer Financial Protection Bureau, What is a debt relief program and how do I know if I should use one?
Eligibility amounts ($10,000 minimum debt, $250 minimum monthly payment) are requirements set by the program provider. See eligibility requirements.