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Americans Owe $1.26 Trillion on Credit Cards. New Report Sees a Development In The 'K-Shaped' Economy

Posted on August 12, 2026
By International Business Times
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Americans Owe $1.26 Trillion on Credit Cards. New Report Sees a Development In The 'K-Shaped' Economy

Credit card balances increased by $21 billion during the quarter, according to the Federal Reserve Bank of New York's latest Quarterly Report on Household Debt and Credit released Tuesday.