As Americans grapple with record levels of credit card debt, SoFi Technologies (SOFI) CEO Anthony Noto is touting personal loans as a clearer path out of debt than high-interest revolving credit cards.
In a post on X, Noto said that even as credit cards keep people in debt “because the math is stacked against them,” personal loans are “a responsible alternative.”
America’s Credit Card Problem Deepens
The comments come amid recent data from the Federal Reserve Bank of New York that showed total U.S. credit card balances topped $1.25 trillion in the first quarter of 2026, up from $1.18 trillion a year earlier, notching the highest first-quarter level in 15 years, and the most since the 2008 financial crisis.
Meanwhile, U.S. credit…