As credit card debt swells and interest rates spike, many spenders are fearful about high balances. Here’s what to know if you’re dealing with credit card debt.
And many Americans are turning to plastic to fund their trips. Vacations are the top credit card expense in 17 states, according to the Upgraded Points report.
However, the same report found more than one-third of respondents have used credit to purchase something they couldn't afford but didn't want to wait for. Consumers have more ways to finance purchases, but high-interest credit card debt can be one of the toughest to pay off, he said.With many Americans struggling, it's easy to see why some may avoid credit card statements, said Matt Schulz, chief credit analyst at LendingTree. However, it's a critical budgeting tool and a"With rampant inflation and rising interest rates, it is even more important to check your card statements regularly," Schulz said.
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