US Credit Card Debt: Why Minimum Payments Are on the Rise Despite Economic Growth
2025-01-26
USA Today
Despite the strong US economy, a growing number of Americans are struggling to make credit card payments, with the share of individuals making only the minimum payment hitting a 12-year high. This trend, combined with rising delinquencies, raises concerns about consumer debt and financial stability. As credit card debt continues to increase, it's essential for individuals to manage their finances effectively and make timely payments to avoid falling into debt traps. With the right strategies and a bit of discipline, consumers can navigate the challenges of credit card debt and maintain a healthy financial outlook, even in times of economic uncertainty, including debt consolidation and credit counseling.
