According to a new study by the Century Foundation, approximately 111 million Americans are unable to pay off their credit card bills each month. That’s half of all Americans with a credit card, and 40% of all adults!
Credit card debt can be exceptionally challenging to manage because it often compounds at high interest rates and is typically utilized for consumer spending rather than appreciating assets (unlike a mortgage). Since January 2025, Americans have paid $240.7 billion (with a “b”) in credit card interest charges. And credit card interest rates are sitting at an