Im not sure where you saw the $11,500. The article states: "That works out to an average of $105,056 per U.S. household
Oops wrong link. Here is the article from an Indiana news station.
INDIANAPOLIS — Americans added significantly to their credit card balances last year, pushing total debt to $1.39 trillion, according to data from the Federal Reserve.
For the average household, that's roughly $11,500 in credit card debt.John Kiernan with WalletHub said if you adjust for inflation, that amount is about 9% below the all-time record.
"If you don't adjust for inflation, the numbers we're seeing in terms of total debt and the amount we're adding are records," Kiernan explained.
With most credit cards charging double-digit interest rates, those balances can become expensive quickly.
Making only the minimum monthly payment on that type of balance can cost thousands in interest over the years.
Experts say the first step toward reducing credit card debt is creating a clear budget.
Tracking how much money is coming in and how much is going out can help identify areas where spending can be reduced.
Budgeting tools can make the process easier.
Consumers can track expenses using budgeting apps, download pre-made spreadsheets, or create personalized spending plans with artificial intelligence tools.
Kiernan said another option for people with strong credit is debt consolidation.
“If you have several credit card balances that are pretty expensive, you could get a lower-interest personal loan, pay off those balances, and then pay off the personal loan at a lower rate,” Kiernan said, “There are a variety of ways to go about it, but budgeting is the most tried-and-true method.”
The $1.4 trillion figure may decline in the first quarter of 2026.
Credit card balances can fall during the first few months of the year as consumers scale back spending after the holidays and follow through on New Year’s financial resolutions.
