Half of Americans Struggle with Credit Card Debt Amid Rising Interest Rates
A recent survey by The Century Foundation reveals that approximately 50% of American credit card holders are unable to pay off their balances in full each month. This financial strain is exacerbated by rising interest rates, which are increasing the overall cost of credit card debt. The survey highlights the growing financial burden on consumers as interest rates push balances higher, making it more challenging for individuals to manage their debt effectively.