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Credit card debt balances may have declined in the first quarter of 2025, but they’re still a major source of financial concern for millions of Americans. At a total of $1.18 trillion in the first quarter of 2025, balances declined from where they were at the end of 2024, but they’re still up 6% from where they were a year earlier. And with an average credit card interest rate of over 21% now and
