In the race to earn points, miles and cashback, more Americans are finding themselves stuck in a cycle of credit card debt.

The appeal of rewards programs is undeniable with free flights, hotel stays or even a little extra cash in your pocket, but for many, the price of those perks is steeper than it seems.

A growing number of consumers are carrying balances month-to-month, often lured by the promise of benefits that pale in comparison to sky-high interest rates.

With credit card debt at a record $1.2 trillion, experts are urging cardholders to rethink their strategies before the costs outweigh the rewards.

The rewards trap

New mom Katie LeStrange is juggling a lot. She works full-time, recently bought a home and her daughter is in daycare. Like many busy parents, she turns to her credit cards for convenience and the extra perks they offer.

"I mean, it's a lot, right? It's hard to balance everything," said LeStrange.

She uses her cards for almost all her daily expenses, from grocery shopping to clothing, diapers and household goods.

"Oh, I use it for grocery shopping, but also for all clothing, accessories, going to Target or Walmart, getting whatever, you know, my child needs," she said.

But it's not just about convenience, it's also about the rewards. LeStrange said her family has been able to travel thanks to the points she racks up.

"It's actually our primary, that's how we usually book vacations, is through my credit card points," she added.

She's not alone. A recent survey from Bankrate found that 72% of adults with credit card debt say they are chasing rewards—even as they carry balances month to month.

"The reason why that's a mistake is credit card interest rates are really high," said Ted Rossman, a senior industry analyst with Bankrate. "Paying 20% interest to get 2% cash back is just a losing proposition."

Rossman says U.S. consumers now owe a record $1.2 trillion on their credit cards. And while rewards are attractive, the interest often erases the value.

"Not to shame anybody with credit card debt," Rossman added. "People often get into it for very practical reasons like unexpected medical bills, car repairs and also just day-to-day living."

Even LeStrange, who is financially cautious and keeps a tight budget, says she understands how easily the chase for rewards can spiral into serious debt.

"Oh, I can see why people do it, yeah, absolutely. Because it's just, it's money for the moment, so you're not thinking about, 'Okay, I have to pay this off at the end of the month.' And if you actually need essentials, you're going to use that credit card, even if maybe you don't have the money," she said.

How to break the cycle

Rossman's advice? Pay off those cards in full each month. If that's not realistic, start by setting the rewards aside and focus on cutting down the debt.

"First, forget about the rewards for now," he said. "They aren't helping if you're paying high interest."

His suggestions include transferring balances to a 0% interest card, many offer a promotional period of 12–18 months with no interest, to give yourself a window to pay down what you owe.

If your balance is more than $6,000, Rossman recommends reaching out to a non-profit credit counselor to explore debt management plans that can help reduce your payments and interest.

Also, be mindful of spending once the debt is gone. "You can't hide from your credit card debt," Rossman said. "That minimum payment math is brutal. It stretches on forever and ever."

For LeStrange, the rewards still feel worth it, but only because she's learned how to manage her spending carefully and pay off her balance each month.

"I feel like that is so important if you can and I know a lot of people aren't able to, but if you can pay it off every month, to pay it off so that you don't get further and further into debt," she said.