U.S. credit card debt is back at an all-time high: $1.21 trillion. Debt levels surged post-pandemic, and only 54% of Americans pay their balances in full each month. Nearly 7% of balances went delinquent over the past year.
Even if you’re not delinquent, the cost is massive. A $6,000 balance with 20% interest could take over 18 years and $9,000 in interest to pay off if only minimum payments are made.
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