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Breaking the cycle of credit card debt The problem with credit card debt is twofold. First, the longer you carry a balance (or multiple balances), the more interest you accrue.
Credit card debt, though, can be particularly hard for borrowers to get out of, due to high interest rates that currently average around 20%.
As of the end of 2023, Americans had racked up an all-time record of $1.13 trillion in credit card debt. Total debt levels reached $17.503 trillion, or $104,215 per household. Part of this was due ...
Credit card debt is on the rise: American card balances reached $1.13 trillion in the last three months of 2023, up from $986 billion at the end of 2022, according to a Federal Reserve Bank of New ...
Credit card debt is still below student loan debt, but the damage is still far-reaching and growing. Credit card APRs have gone up 30% over the last year and a half. That's the yearly interest ...
Credit card debt vs. emergency savings, by generation ... 39 percent of people cite their own health and 38 percent cite current events (such as world news, politics, climate change, etc.).
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