Getty Images
Covid-19 has triggered unprecedented financial challenges for many individuals and families.
Now, one survey shows just where many of them are feeling the pinch their credit card balances.
Bankrate.com finds that 42% of U.S. adults with credit card debt have increased those balances since the Covid-19 pandemic began in March 2020. The company’s online survey was conducted in early September and included 2,400 adults, 1,297 of whom had credit card debt.
Of those whose debts increased, 47% said it was directly caused by the pandemic.
“It does go to show how widespread and persistent of a problem credit card debt can be,” said Ted Rossman, senior industry analyst at Bankrate.com.
Admittedly, while many Americans have…
Read the full article at: https://www.cnbc.com/2021/09/27/42-percent-of-americans-have-increased-their-credit-card-debt-during-covid-19.html
