U.S. Credit Card Debt Hits $1.25 Trillion in Q1 2026

As of Q1 2026, total U.S. credit card debt reached $1.25 trillion, according to New York Fed data. Average APRs on new credit cards exceeded 23%, contributing to long-term delinquencies rising to 13.12%, the highest rate in 15 years. Debt settlement companies typically charge 15% to 25% of the total enrolled debt as a fee, translating to a charge of between $3,750 and $6,250 for clients with $25,000 in debt. Understanding these costs is crucial for consumers considering debt relief options.