Americans Owe $1.25 Trillion in Credit Card Debt as Average Interest Rates Exceed 23%
Credit card debt reached $1.25 trillion in Q1 2026, with an average interest rate of 23.7%, according to the New York Fed. Experts suggest that over 80% of borrowers who request a lower rate can succeed, based on LendingTree survey data.
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Topics: debt financial advice interest rates