Report: Credit card debt projected to decrease $61B
It is predicted that there will be a $61 billion decrease in credit card debt based on new data set to be released on Friday by the Federal Reserve, according to a new report from WalletHub.
If proven true, the decrease in debt could affect millions of people, as roughly 191 million Americans own at least one credit card, according to Forbes in 2026.
WalletHub predicts that credit card debt will decline by $61 billion during the first quarter of 2026. This projected decrease is 6% lower than the previous first quarter years.
If confirmed by Friday’s Federal Reserve data release, WalletHub’s projection would mark a significant turnaround from recent years, with total credit card debt expected to fall to roughly $1.35 trillion, about 14% below its record high.
Despite the projected decrease, WalletHub still predicts that the total credit card debt will increase by $60 billion dollars in 2026.
John Kiernan, a WalletHub Editor, said this data may look promising in the first and second quarter, but debt typically picks up more during the end of the year.
“Consumers typically shed some debt in the first quarter, then gradually regain it throughout the year, before really packing it on during the holidays,” Kiernan said.
The official data from the Federal Reserve is set to be released this Friday at 4 p.m.
Mostly Sunny
Latest News Stories
Will County Corporate Revenues Surpass Expectations, Igniting Debate Over Delinquent Tax Sales
Meeting Summary and Briefs: Will County Public Works and Transportation Committee for March 3, 2026
Will County Grants Extensions for Seven Solar and Commercial Projects Amid Permitting Delays
Will County Committee Postpones Liquor, Ad-Hoc Committee: Gaming, and Tobacco Ordinance Updates Amid Extensive Revisions
Land Use Committee Approves 4.98-Megawatt Solar Facility on Eagle Lake Road Near Peotone
Will County Advances Nearly $1.5 Million in Right-of-Way and Improvement Agreements for Weber, Gougar, and Laraway Roads
Public Works Committee: Approves $1.59 Million Contract for Scheer Road Bridge Replacement in Green Garden Township
Will County Board Backs $10 Million State Public Health Grant Increase Amid Funding Cuts
Barn Fire on Whispering Hills Lane Claims Livestock, Draws Extensive Mutual Aid Response
Will County Public Works Committee Shelves License Plate Reader Agreement Amid Bipartisan Privacy Concerns
Will County Planning and Zoning Commission Overrides Staff to Approve New Lenox Accessory Building Variance
Will County Sheriff’s Office Welcomes Remi, First Electronic Scent Detection Dog
