Americans are racking up close to $1 trillion in credit card debt, according to a new study.
The study conducted by personal finance website WalletHub found that American credit card debt rose by 6 percent to $936.10 billion, up from $884.70 billion in 2016.
In the second quarter of 2017, U.S. consumers added $33 billion in debt with credit cards — the second-highest amount of debt since 2008.
WalletHub predicts that U.S. consumers will amass $60 million more in debt with credit cards by the end of 2017, pushing the total amount of credit card debt in America to $1 trillion.
The study notes that the average household credit card balance in the U.S. went up to $7,996 in 2017, up from $7,584 during the same period in 2016.
The year 2016 was the worst for credit card debt since the financial crisis when U.S. consumers amassed $87.2 billion in new credit card debt by the end of the year.
The first quarter of 2017 had promising showings when consumers paid $30.5 billion of the debt before taking on $33 billion in debt in the second quarter from April 1 to June 30.
Even though Americans’ credit card debt has reached new highs, it has not yet reached the level of the national debt, which climbed to $20 trillion for the first time Tuesday.