Many companies featured on Money advertise with us. Opinions are our own, but compensation and
in-depth research may determine where and how companies appear. Learn more about how we make money.

Published: Feb 01, 2023 3 min read
Young woman holding credit card
Money; Getty Images

Americans’ credit card balances are on the rise, according to an analysis showing the average debt per borrower increased to highs last seen before the pandemic.

A new report from the credit bureau TransUnion found that amid surging inflation, overall credit card balances for the U.S. reached a record high of $930 billion in the last quarter of 2022, up $145 billion from the same period in 2021.

What the research says