<body><div><img src="https://img.particlenews.com/image.php?type=thumbnail_580x000&amp;url=09WxjO_0wCPMsD600" alt="https://img.particlenews.com/image.php?url=09WxjO_0wCPMsD600" width="1200" height="674" > Many Americans are stressed about their mounting credit card debt. Credit card debt in the U.S. has risen to $1.3 trillion overall, based on the latest data from August, according to a recent study by <a href="https://wallethub.com/" rel="nofollow"> WalletHub </a> . That’s roughly 3% higher than last year, after adjusting for inflation. The average American household has $10,680 in credit card debt, WalletHub found, and the average interest rate for existing accounts with finance charges is <a href="https://wallethub.com/edu/cc/credit-card-landscape-report/24927" rel="nofollow"> 23.37% </a> . <nbtemplate data-id="AdPlaceholder" data-content="JTdCJTdE"></nbtemplate> We plugged the numbers into a credit card calculator. If you paid $300 a month toward the $10,680 balance, it would take five years and two months to pay it off, with total interest of <a href="https://www.calculator.net/credit-card-calculator.html" rel="nofollow"> $7,703 </a> . Here are other findings from WalletHub’s latest credit card survey: Very stressed over debt: 35% of Americans are very stressed about their credit card debt. Interest is accruing: 62% of people charge everyday purchases to credit cards they carry debt on (so every purchase accrues interest). Can’t afford to save: Nearly 1 in 3 people say they can’t afford to save money right now. Non-essential debt: 1 in 5 Americans say that most of their debt comes from nice-to-have expenses, rather than necessities. <nbtemplate data-id="AdPlaceholder" data-content="JTdCJTdE"></nbtemplate> BNPL loans: More than half of Americans are worried about “buy now, pay later” loans showing up in their credit report. Economy concerns: 35% of Americans think the economy will go into a recession before they pay off their credit card debt. <hr> Follow us on <a href="https://www.facebook.com/RetirementAdviceandWisdom" rel="nofollow"> Facebook </a> , <a href="https://www.instagram.com/retirementdaily/" rel="nofollow"> Instagram </a> , <a href="https://twitter.com/Retirementpedia" rel="nofollow"> Twitter </a> , <a href="https://www.linkedin.com/in/powellrobert/" rel="nofollow"> LinkedIn </a> and <a href="https://www.tiktok.com/@retirement_daily?_t=8cayaIXmFuF&amp;_r=1" rel="nofollow"> TikTok </a> ! <hr> &gt;&gt; If you’re looking for ways to manage credit card debt, read: <a href="https://www.thestreet.com/retirement-daily/your-money/top-tips-for-managing-debt-before-and-during-retirement" rel="nofollow"> Top Tips for Managing Debt Before and During Retirement </a> Methodology: WalletHub’s <a href="https://wallethub.com/blog/credit-card-debt-survey/49637" rel="nofollow"> report </a> reflects the results of a nationally representative online survey of over 220 people. They normalized the data by age, gender and income so the sample would reflect U.S. demographics. <a href="https://www.thestreet.com/retirement-daily/ask-the-hammer/what-are-the-best-strategies-to-pay-down-credit-card-debt" rel="nofollow"> Related: Ask the Hammer: What Are the Best Strategies to Pay Down Credit Card Debt? </a><a href="https://www.thestreet.com/retirement-daily/your-money/beyond-budgeting-the-psychological-trick-to-stop-overspending-with-credit-cards" rel="nofollow"> Related: The Psychological Trick to Stop Overspending with Credit Cards </a><nbtemplate data-id="AdPlaceholder" data-content="JTdCJTdE"></nbtemplate></div></body>

Mountain View, CA

A recent survey shows that 35% of Americans are overwhelmed by credit card debt.