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Posted on 05/12/2026 10:39:14 PM PDT by delta7
Survey finds 42% of people feel like they’ll have credit card debt until they die
Americans collectively owe $1.3 trillion in credit card debt, with the average household carrying more than $11,000 in balances.
John Kiernan, managing editor at WalletHub, said people are struggling with credit card debt.
A new WalletHub survey found about 2 in 5 people say they expect to have more credit card debt by the end of this year.
“And 42 percent of Americans feel like they’ll have credit card debt until they die,” Kiernan said. “So, it’s an expensive thing that’s kind of eating away at a lot of people. And people don’t feel like they have a way out...
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Zero CC = Zero CC Debt, moi. Take that to the next level with Zero Debt. I checked my Credit Rating six months ago, a big fat ZERO! The offers I get now days all speak to me like I’m 15 y/o again, and I feel fine.
I agree, but it is still hard to watch them make such big mistakes that will impact them for the rest of their lives.
oh yeah, I fully sympathize - I have a 15 year old who was completely lackadaisical for school so far and just lazy - and for me when |I grabbed every opportunity I could get, I don’t understand him.
But what can we do?
We give them the tools and the opportunities and the rest is in their hands. We can only pray
Haven’t had credit card debt for 40 years. One card now,AMEX with no cap, 0% and everything goes on it during the month, auto payed in full every month and I get an excellent year end summary every year.
I don’t have debt, but sometimes find that I have to go that route for house maintenance. Would love to save, but income makes that next to impossible. Age, health, etc. makes it difficult to add extra money to the budget. But, I keep it to the dullest roar possible.
Yes. We can only pray. 🙏🏼
Do you anticipate them coming to you for financial help? I expect that your son knows better, considering how you raised him.
Living cash-only is the best! That includes cars and homes.
Of course there must be huge corruption in the explanation.
Joe Biden is from Delaware. Credit card companies are incorporated in Delaware. Hmmmm. Follow your nose.
Credit cards are a trap for those that are weak minded in the finance department. Many of these people have trouble separating needs and wants.
We pay off our cards monthly and have zero credit card debt.
However our credit card charges around 28% for purchases and 31% for cash advances. A monthly credit card statement with a balance of $2500 requires only a monthly payment of $25.00.
At those interest rates it would be nearly impossible to ever pay it off using their payment plan. I think the goal is to have payments so low that idiots quickly max out the card and move on to another.
What they do not realize is that 28% interest is lost money that could be used to buy necessities.
“And people don’t feel like they have a way out...”
Well there’s always bankruptcy...
Lack of fiscal responsibility.....we use our cards a lot....but have them paid off automatically each month with an auto-draft from our checking account. We never use them as a “loan”. If you can’t afford it, don’t charge it.
I haven’t read the comments, but if the past is prologue, most of them will model after “I always pay off my cards every month”, OR, “I never had any cards”.
This is boomerspeak for the Britishism, “Bang the bell, Jack, I’m on the bus”.
Nevertheless, the creation and perpetuation of private money formation (credit cards and repeal of usury laws) is slowly destroying the country, and unless you have a bunker in New Zealand and a private submarine to get you there, you need to wake up and smell the coffee.
Keep it simple, pay off your credit card debt at the end of each month.
I have 2 credit cards that get paid off automatically every month. I never use a debit card after having one “stolen” by a bank employee, Having your checking account get cleaned out can be a nightmare.
Not necessarily. Most people go right back into debt when their credit score revives. Bankruptcy doesn’t fix the “I spend more than I make” problem.
It’s not slavery. It’s stupidity.
The availability of debt is not the issue. It’s the use of debt. Overall, it’s the lack of desire to learn financial management. We have an entire generation that is retiring while holding 50% of the nation’s wealth. Tack pensions on to that and we have cash getting ready to hit the market in massive amounts. My income in retirement is higher than when I was working. Why? The desire to learn financial management.
They could have lower rate cards, but the same government you are begging to cap interest rates requires the banks to give credit cards to almost anyone under DEI based policies. Additionally, bankruptcy laws are so lenient that they have to write off a ton of balances. In conclusion, the high rates are because of the government.
I have been using the AMX Blue Cash rewards card for twelve years.
6% Cash back(a credit on next months bill) on grocery stores and pharmacies.
3% cash back on fuel station purchases.
1% on everything else.
There is no limit how much you can get back in one year.
I use it to buy almost everything. The rest I pay in cash.
I keep a Mastercard for the occasional places that do not accept AMX.
I just received last months bill which included a vacation.
I will pay it off. I also noticed on the statement that I had over $300 in cash back rewards available.
I also can use those rewards on Amazon. It will ask me IF I want to use them at the final point of purchase.
Then the Amazon purchase is basically free.
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