WASHINGTON–Americans added about $16 billion in credit-card debt during the third quarter of 2025, but overall outstanding balances remain below all-time peaks, according to a new study from personal-finance site WalletHub.
As of August 2025, total U.S. credit-card debt stood at approximately $1.33 trillion (inflation-adjusted), roughly 13% below its historical high, WalletHub found.
On a per-household basis, the average balance at the end of the quarter was about $11,019 — about $2,065 less than the previous record, according to the report.
The $16 billion increase in Q3 was nearly 27% less than the debt added in the same quarter last year, suggesting debt accumulation is decelerating.
YoY Debt Decline
According to WalletHub, preliminary data from October indicate a 0.2% drop in credit-card debt versus the same month last year.
Still, WalletHub cautioned many Americans say they expect balances to climb. In a related survey, about one-third of respondents predicted they will have more credit-card debt by the end of 2025.
‘Elf on the Shelf is Watching’
“Consumers are getting their act together ahead of the holidays, like kids on their best behavior with Santa and the Elf on the Shelf watching,” John Kiernan, WalletHub Editor, said in a statement. “Not only did we add 27% less debt to our tab in the third quarter this year compared to the same time last year, but preliminary data for October shows a slight reduction in debt year over year. If we can keep this up, it would be great news for the financial health of U.S. households and the economy more broadly. But if history is any indication, we’re in for a massive influx of debt before 2025 comes to a close.”
