Americans are carrying more revolving debt than ever, and 2025 could push those numbers even higher. Credit card balances have ballooned as inflation eats into wages and borrowing costs stay stubbornly high. With economic uncertainty still looming, the big question is whether consumers will keep swiping—or start pulling back.
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Data for today’s episode is provided by Javelin Strategy & Research’s Report: Seven Credit Card Warning Signs in 2025: Don’t Stop Lending, but Watch Out
U.S. Revolving Debt, Year-End Totals (in trillions of dollars)
- In 2022, the U.S. revolving debt total was $1,213 trillion.
- In 2023, the U.S. revolving debt total was $1,319 trillion.
- In 2024, the U.S. revolving debt total was $1,317 trillion.
- In 2025, the projected U.S. revolving debt total is $1,375 trillion.
Source: Federal Reserve, Javelin Strategy & Research projections
About Report
For credit card managers, navigating shifting risk indicators is a constant challenge. Today’s landscape sends conflicting signals: unemployment remains low, inflation has eased but is still elevated, and consumers are tightening their belts on nonessential purchases. Meanwhile, lender confidence is waning and delinquencies have climbed well above typical levels. The inevitability of a future recession only adds to the uncertainty.
In this new report from Javelin Strategy & Research, seven core metrics—revolving debt, consumer confidence, lending outlook, unemployment, inflation, delinquencies, and charge-offs—are analyzed in depth. The report also offers strategic guidance for credit managers looking to mitigate exposure and maintain portfolio health.
