NEW YORK—A six-figure net worth may come with some strings attached, a new report reveals.
About 46% of U.S. adults with a net worth of at least $100,000 are more likely to have credit card debt, compared with 40% of those who have a negative net worth, according to a new Bankrate survey.
Surprisingly, 57% of those with a net worth between $100,000 and $199,999 are the most likely to carry credit card debt versus 42% of all Americans, noted USA Today in its analysis.
“Three culprits are to blame, experts say, ranging from lifestyle creep, which refers to a rise in spending as wages increase, better access to credit and lack of liquidity,” USA Today said.