Revolving debt, the type that includes credit card purchases, rose by $4.1 billion in June alone. It's down a bit: in May it rose a whopping $6.9 billion. Still, for individual consumers who are fighting to pay off their balances, it's still a bad sign.
"America's credit card balances have never been higher, but there's no reason to think they won't just keep climbing," says Matt Schulz, CreditCards.com's senior industry analyst. "Combine that with steadily rising interest rates and you have a potentially volatile mix."
Schulz says this new record should serve as wake-up call to Americans: Start tackling your debt now before it grows any more.
"Even if you feel your debt is manageable right now, know that you could be one unexpected emergency away from real trouble," he says. "Get that debt paid down while things are good so you can be better prepared if things turn for the worse."
If you're struggling to pay back your credit cards, there are two effective ways to tackle it: The snowball method, which targets the smallest debts first, and the avalanche method, which focuses on the highest interest rates.