56 million credit cardholders have been in debt for at least a year
American consumers' combined outstanding credit card balances hit a record $1 trillion in 2023, miring many people in debt.
Credit Card Debt
Shoppers opened their wallets this holiday, defying fears of pullback
U.S. economy continues to plow ahead, as holiday shoppers shell out more on gifts this year than predicted.
Rate hike pause could be good for your 401(k)
An end to the interest rate hike cycle may be in sight with inflation cooling. Al Root, a senior writer at Barron's, breaks down how the rate hike pause could positively impact your retirement savings plans.
Retail credit card APRs rise to record highs, topping 30%
According to a Bankrate survey, the average retail card APR is now 28.93%, with some retail credit cards charging 32.24%.
Credit card APRs are surging ever higher. Here's how to get a lower rate.
More than a third of credit cards now carry APRs of nearly 30%. But to get a lower rate, often all you have to do is ask.
Republican lawmaker proposes 18% cap on credit card interest rates
U.S. Senator Josh Hawley's bill comes as Americans have been saddled with more than $1 trillion in credit card debt.
Are medical credit cards worth it?
More Americans are turning to medical credit cards as they struggle to pay for medical bills, according to a new survey from the Consumer Financial Protection Bureau. CBS News MoneyWatch associate managing editor Aimee Picchi explains how the cards could impact your credit.
Why U.S. credit card debt increased
U.S. credit card debt surpassed $1 trillion this week, according to new data from the Federal Reserve Bank of New York. Michelle Lambright Black, the founder of creditwriter.com, explained the factors contributing to the increase in credit card debt among Americans and provided tips on how to pay down the balances.
Credit card debt across U.S. tops $1 trillion
Credit card debt in America has reached a new high, surpassing $1 trillion for the first time according to a new report from the Federal Reserve. The Fed says about $45 billion of that debt was added just in the last few months. Jennifer Streaks, senior personal finance reporter for Insider, joined CBS News to discuss what this means for the economy.
America in a credit card debt crisis
Americans are racking up all-time high levels of credit card debt. Ted Rossman, senior industry analyst for CreditCards.com, has tips if you're struggling with high balances.
When to take a break from credit cards
Cash back, rewards points and delayed payment options can make credit cards seem extremely attractive, but they can lead to serious consequences if not monitored properly. NerdWallet Personal finance expert Kimberly Palmer has more on when you might want to consider a credit card hiatus.
Buried in credit card debt? Here's how to dig your way out.
With annual percentage rates topping 20%, it's more important than ever to lower your credit card debt. These tips can help.
Americans have $986 billion in credit card debt
Americans now carry a record $986 billion worth of credit card debt, according to numbers from the Federal Reserve Bank of New York. CBS News MoneyWatch reporter Megan Cerullo explained the reasons behind the staggering number, and shared tips for reducing your debt.
How a U.S. debt default could impact your money
"It's hard to overstate how bad it would be," one expert said. Everything from Social Security payments to your retirement fund could get hit.
Amid record high APRs, what's a good credit card interest rate?
Before applying for new plastic, look for offers in this range. And be willing to negotiate.
Americans racked up record credit card debt in February
American consumers paid down a substantial portion of credit-card debt in the pandemic, but have now reversed themselves.
Average credit card interest rate hits record high
With average APR near 21%, now is the time to pay off credit card debt as it becomes costlier to carry.
How to approach credit card perks, debt
Spending and inflation have sent credit card debt soaring to a record high of nearly a trillion dollars, and credit card companies are offering perks to try to get more people to sign up. Javier E. David, a CBS News contributor and the managing editor for business and markets at Axios, joined Vladimir Duthiers and Anne-Marie Green to discuss what customers need to look out for.
Americans in their 30s struggle with debt
Americans in their 30s are struggling with mounting debt, surpassing other age groups, and rising interest rates are making it harder to pay the bills. CBS News' Tony Dokoupil and Lilia Luciano are joined by Yahoo Finance reporter Akiko Fujita.
Americans are saving less and being buried in credit card debt
About 36% of survey respondents said they have more credit card debt than emergency savings, up from 22% a year ago.
MoneyWatch: How to lower credit card debt
Personal finance columnist Michelle Singletary joins CBS News' Errol Barnett and Elaine Quijano to offer some tips for lowering credit card debt as consumers grapple with inflation and rising interest rates.
"Buy now, pay later" programs make it easy to rack up debt fast
The programs can be used on everything from groceries to weddings. But missing a payment could cost you.
Exclusive
U.S. may have withheld warnings to Ukraine on deadly Kyiv strikes
Pope's cancer prognosis may depend on these factors, doctors say
Exclusive
Top meme coin buyers vying for Trump dinner appear to be overseas
Inflation surged in September as U.S. energy costs jumped
Live
Houthis launch new attack on Saudi capital as Trump mulls strikes
World's oldest shipwreck found off Turkey's coast, archaeologists say
DOJ tells California to review whether noncitizens got mail ballots
Trump pardons 2 auto workers on stage during rally in Alaska
