NEW YORK—During the coronavirus crisis, 51% of adults with credit card debt—roughly 51 million people—added to their balances, according to a report by CreditCards.com.
Approximately 44% blame the pandemic.
In addition, Americans’ confidence in their ability to pay their card balances fell in January, according to a separate survey from LendingTree, CNBC reported.
“Hopefully wider vaccine availability will bring better days soon,” said Ted Rossman, an industry analyst at CreditCards.com. “Unfortunately, we’re not there yet.”