US commercial banks are holding a record $1.09 trillion in credit card and revolving consumer loan debt, according to Federal Reserve data from late April 2026. This milestone reflects a significant increase in borrowing since the pandemic recovery began, with credit card balances first surpassing $1 trillion in mid-2023. The latest figures show a slight dip to $1,086.32 billion by May 6, but the overall trend remains upward. The broader US credit card debt, including all lenders, reached $1.28 trillion in Q4 2025 before a seasonal decline to $1.252 trillion in Q1 2026. Over the past five years, credit card debt has surged 63% from pre-pandemic levels, with average interest rates near 21.5%. This growing debt burden could impact consumer spending and increase default risks, affecting sectors reliant on discretionary spending.