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DebtU.S. Credit Card Debt Sets Record at $1.33 Trillion, NY Fed Reports TodayRetirementMedicare Part B Jumped 9.7% in 2026, Canceling Out Much of Social Security's Annual RaisePersonal FinanceStudent Loan Wage Garnishment Returns This Fall — Borrowers Have Until July 1 to ActConsumer NewsUSDA Projects Grocery Prices Up 2.5% in 2026 — Beef Costs Could Climb Nearly 10%BankingTop CD Rates Reach 4% APY This Week — Window May Not Stay Open LongDebtU.S. Credit Card Debt Sets Record at $1.33 Trillion, NY Fed Reports TodayRetirementMedicare Part B Jumped 9.7% in 2026, Canceling Out Much of Social Security's Annual RaisePersonal FinanceStudent Loan Wage Garnishment Returns This Fall — Borrowers Have Until July 1 to ActConsumer NewsUSDA Projects Grocery Prices Up 2.5% in 2026 — Beef Costs Could Climb Nearly 10%BankingTop CD Rates Reach 4% APY This Week — Window May Not Stay Open Long
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Today’s Lead Story
Tuesday, May 12

Debt

U.S. Credit Card Debt Sets Record at $1.33 Trillion, NY Fed Reports Today

via Federal Reserve Bank of New York

Americans now carry a record $1.33 trillion in credit card debt, the Federal Reserve Bank of New York reported today in its Q1 2026 Household Debt summary. Average revolving APRs have hit 21% while the national personal savings rate has dropped to just 4%.

Why it matters

Carrying a revolving balance at 21% APR means interest compounds quickly — even modest extra payments each month can shave months off the payoff timeline.

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