With the costs rising for nearly everything due to high and persistent inflation, it’s no surprise that many Americans are turning to credit cards to help pay for essentials. But while this approach can help fill in the gaps in your budget, it comes at a hefty price.
According to the Federal Reserve Bank of New York, Americans currently collectively owe $1.12 trillion in credit card debt more than 13% compared to one year ago. And, the average American now owes almost $8,000 in credit card debt despite annual percentage rates (APRs) on credit cards having almost doubled in the last decade. The average credit card rate is now …
Read the full article at: https://www.cbsnews.com/news/how-to-get-help-with-your-credit-card-debt-according-to-experts/
