Credit card debt dips to $1.25 trillion — but maintains ‘K-shaped’ pattern, New York Fed research shows

Credit card balances fell in the first quarter of 2026, decreasing by $25 billion to $1.25 trillion, according to a new report on household debt by the Federal Reserve Bank of New York released Tuesday. Still, that's a 5.9% jump from a year earlier. At the same time, mortgage debt , auto loans , and home equity lines of credit were all higher, the New York Fed found. …