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Several years of high inflation are still straining the budgets of millions of Americans. Despite recent cooling, essential living costs like food, gas and housing remain elevated. Many pinched consumers are turning to their credit cards to make ends meet.
Consequently, many are becoming more reliant on credit cards, with an average credit balance of around $8,000. With credit card interest rates averaging 23.37% and exceeding 30% on some retail cards, the cost of carrying a balance can create an untenable…
