Tag #Credit Card Debt

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Record-High U.S. Credit Card Debt Fuels Demand for Safe Debt Consolidation Strategies

The total U.S. credit card debt has hit a record \$1.21 trillion, with an average of \$8,000 per cardholder, leading many to seek debt consolidation strategies; however, some methods can harm credit scores while others, like debt management programs or personal loans, offer safer routes to financial...

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Fed Meeting Unlikely to Reduce Credit Card Rates; Debt Relief Options Explored

The Federal Reserve's July meeting is unlikely to lower credit card interest rates, currently averaging 21.16%, due to factors beyond the Fed's benchmark rate, leaving borrowers with high-rate debt to seek alternative debt relief options.

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Credit Card Debt Forgiveness: 3 Actions to Avoid for August Approval

To qualify for credit card debt forgiveness by August 31st, borrowers should avoid making minimum payments, losing financial paperwork proving inability to pay, and increasing debt to meet program thresholds; alternative debt relief options exist.

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Inflation Surge Impacts Credit Card Rates

Rising inflation, hitting 2.7% annually in June, is driven by increased food prices (eggs up 27%), impacting the Federal Reserve's interest rate decisions and subsequently raising credit card interest rates, currently averaging over 21%.

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Record US Credit Card Debt Fuels Surge in Debt Consolidation

Americans are grappling with record credit card debt (nearly \$8,000 average), coupled with high inflation and 22% interest rates, leading to a surge in debt consolidation strategies like personal loans, balance transfers, and debt management programs; the success of these methods depends on individ...

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Five Signs Your Credit Card Debt Needs Professional Help

High interest rates and insufficient income contribute to unsustainable credit card debt for millions of Americans; five warning signs indicate when professional help is needed, including inability to pay beyond minimums despite budgeting, credit utilization exceeding 50%, using credit for essential...

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Record-High US Credit Card Debt Reaches $1.21 Trillion

US credit card debt hit a record high of $1.21 trillion in Q2 2025, a $27 billion increase from the previous quarter, driven by inflation, high interest rates, and increased credit reliance; consumers can negotiate with creditors for relief or seek professional help.

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Rising Inflation Pushes Americans Towards Bankruptcy

High inflation and interest rates are driving up bankruptcy filings in the US, forcing individuals to choose between Chapter 7 (liquidation) and Chapter 13 (repayment plan) bankruptcy, each with different implications for asset retention.

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Inflation Climbs, Raising Concerns About Credit Card Interest Rates

June's inflation rose to 2.7% annually, exceeding expectations and driven by food price increases, potentially leading to further credit card interest rate hikes.

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Debt Relief Companies: Benefits, Limitations, and Credit Impacts

Debt relief companies negotiate lower credit card debt payments, averaging 30-50% reduction, but may negatively impact credit scores and require upfront fees; consumers should compare options before use.

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Credit Card Debt Forgiveness: A Timely Solution for Millions

Millions of Americans face high credit card debt (average $8,000, 21%+ interest), and credit card debt forgiveness, eliminating 30-50% of debt for qualified borrowers, offers a timely solution due to unlikely Federal Reserve rate cuts and compounding interest.

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High Interest Rates and Costly Mistakes Fuel US Credit Card Debt Crisis

The average American cardholder owes almost \$8,000, largely due to rising living costs and high-interest rates; five common mistakes — minimum payments, ignoring promotional rates, cash advances, closing old cards, and late payments — significantly increase debt costs.

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Showing 1 to 12 of 89 results