Americans now owe a collective $1.2 trillion dollars to credit card companies as credit card use surges with high interest rates.
DENVER — As many families see their budgets shrink, some have started putting essentials like groceries and utilities on credit cards. The trend is causing an increase in credit card use and overwhelming debt.
Thomas Nitzsche is a financial educator at Money Management International, a nonprofit credit counseling agency. He has worked in financial counseling since the Great Recession and shared what he’s seeing as America’s credit card debt crisis reaches record levels.
This…