Financial Crisis: 1 in 3 Americans Max Out Credit Cards to Survive
–News Direct–
The United States has recently witnessed a historic surge in credit card debt, reaching a staggering $1.13 trillion.
According to Debt.com s comprehensive survey involving over 1,000 adults, 35% of individuals have exhausted their credit card limits in recent years amidst rising inflation and interest rates. A significant 45% of survey respondents attribute their credit card usage to inflation-driven price hikes, reflecting the struggle to meet basic expenses. Additionally, nearly 9% of respondents resorted to acquiring a credit card to cope with unforeseen financial emergencies.
The current economic scenario underscores the alarming escalation in credit card debt, underscoring the financial pressures faced by numerous Americans. With unprecedented levels of debt and a subs...