Overview
- Bankrate’s 2026 survey finds 47% of cardholders carry a balance, 61% of indebted borrowers have been in debt at least a year, and 22% doubt they will ever pay it off.
- Total revolving credit card debt is about $1.21 trillion, and the average balance per borrower is roughly $6,600, up from 2024.
- Card APRs hover near 20%, and minimum payments stretch payoff timelines, with one example showing a $6,523 balance at 22.83% taking nearly eight years and $7,532 in interest unless payments rise.
- New analysis estimates about 73% of card debt stems from essential expenses such as emergencies and routine living costs rather than discretionary spending.
- Higher earners also carry and often conceal balances, while experts recommend strategies such as 0% balance transfers, larger-than-minimum payments, interest-rate negotiations and nonprofit credit counseling.