Inflation forcing more Americans to pile up credit card debt
CBSN
Credit card debt is weighing on more Americans in 2022 than it did last year and the unpaid balances are impacting everyone along the income ladder.
That's the major takeaway from a new report released Monday from CreditCards.com. In it, researchers found that 60% of credit card holders have been carrying balances on their cards for at least a year. That's up an extra 10% from 2021, CreditCards.com said.
One reason Americans are holding and carrying over so much credit card debt: they're relying on plastic more frequently to pay for recurring expenses like utility bills, groceries and child care.
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