Credit card debt is a growing issue nationwide — with the total amount of card debt in the U.S. recently surpassing $1.14 trillion, a record high. While there are numerous factors driving the trend, inflation has been one of the more impactful.

Key Takeaways Revolving debt, which is mostly credit cards, fell by $1.4 billion in August, the largest decrease since 2021. That figure typically increases each month.Falling credit card debt could mean people are cutting back their spending or cannot get credit rather than voluntarily paying down debts.