A record number of Americans — 111 million — are carrying credit card debt.
According to the Achieve Center for Consumer Insights, over half (53%) of American consumers are carrying credit card balances to cover the rising cost of essential expenses.
Other stats are equally depressing:
- 57% of consumers estimate it would take 6 months or longer to pay off all their short-term unsecured debt, such as credit cards, buy now pay later loans, personal loans and medical debt.
- 46% can’t realistically reduce their credit card spending.
- 35% say it’s “difficult”…