"Rising Consumer Debt: 56 Million Americans Struggle with Credit Card Debt"
A Bankrate survey found that nearly half of credit card users in the U.S. carry a balance from month to month, with 56 million people being in debt for at least a year. The increase in credit card debt is attributed to emergency expenses and daily costs, exacerbated by rising credit card rates and inflation. To tackle credit card debt, consumers are advised to consider options such as opening a 0% interest balance transfer card, seeking help from non-profit credit counselors or credit issuers for more favorable terms, and finding ways to increase income or reduce expenses.
