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...
Yes. A very predictable topic! It’s kind of like the food related articles and the incessant “cut out all carbs” comments.
When people have access to excess.....A very high percentage of people in the USA live beyond their means and are addicted to it.
Debt free=the best thing ever!
We were as financially irresponsible as the next guy but finally had our moment. Total of six figures consumer debt.
Went total scorched earth over 4.5 years and emerged totally debt free including mortgage. For the past four years we have maintained a +50% savings rate on basically the same income we had when we were in the pit. It can be done, but it’s not easy and requires discipline.
Predictable like the “I switched to Linux” comments.
They asked once for help. We turned them down. Message received, but the wife just has no self control. It will be their undoing if they can’t get control of their habits. Being fiscally responsible is not easy, but it’s the right thing to do.
You say 42% of Americans think they will have credit card debt until they die? Sure glad to be one of the 58%ers. It sure wouldn’t do to be liable for all that debt & living on SS. would it?
“the wife just has no self control.”
The thing Hubby likes most about me is that I HATE to shop. LOL!
I did similar back in the 90s, to a maximum of around $34K in credit card debt. I knew better but at the time I just didn’t care. It ended up taking about 4 years to pay it off, during which time I was putting up to 75% of my take-home pay toward the debt.
Now I have one credit card which I pay off every month. For some things like hotel reservations, you practically have to have a credit card.
We also have well under $100K left on the mortgage, but it’s a low rate and I can do better with the money by not paying it off.
It would only work if you know exactly when you were going to die. Since I plan never to die I will instead keep my debts low and pay them off every month.
Another great example! There should be a list:
-I cut out all carbs
-I don’t have a tv and never watch tv
-I never use a credit card or I pay off the balances every month and use the rewards
-Windows sucks - I use Linux, I use Mac etc.
-I only listen to X music, everything else is awful
I’m much the same, except when it comes to grocery shopping. I wouldn’t let someone else pick my fruits, vegetables, and meats for me. Nosirree. That has to pass my personal inspection.
I run up credit card balances each month and pay them off in the next month. I pay all my bills with credit cards except my mortgage and the ones that charge extra to use a credit card. I don’t pay any interest except for the mortgage and that is at 2% so it is cheaper not to pay it off. I also get credit card points.
Predatory lending by banks should not be allowed.
CC theft is in the $$$ billions.
Depends on whether you have property you want to pass onto your kids. A large credit card debt may force the sale to pay it off or cause cash crunches for your kids as they try to salvage their inheritance from the parents debt.
Unless you are smart enough to have filed a TOD deed.
the problem is no personal finance is taught at the high school or college level at all
Yes it is!
We still have three credit cards, but we pay them ALL off every month. Usually, we just use one... for Holiday Inn points. We use an RCL one occasionally, when we go on a cruise, and we use a Delta one when we want airline miles. Credit cards are necessary now just to do anything.
I am retired, and we have NO debt. It’s a GREAT feeling!
We have $600+k equity in our house, if I needed it. Thankfully, we don’t... yet.
Almost every day, I purchase a 32 oz Diet Coke in a great styrofoam cup from Circle K for 85 cents, using my Chase Holiday Inn credit card. I’m STILL trying to figure out WHO makes money on these transactions.
I think, it might be... ONLY me! :-)
A crown and a cavity just cost me $2200 locally.
I got several times that work in Bangkok last month for less than $1000. Paid for the flight in savings. Also did a colonoscopy and MRI review.
I just save stuff up and try and get it done overseas to save money.
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