NEW YORK—With a new year under way, an old issue for many is only growing, with more than eight in 10 Americans who have credit card debt saying they are experiencing anywhere from a little to a lot of anxiety about it, a new survey shows.
The findings would seem to suggest opportunities for credit unions in refinancing at least some of that card debt.
The study from U.S. News & World Report reveals that nearly 31% have at least $6,000 of credit card debt. And 15.1% have credit card debt of $10,000 or more. A majority, 51.2%, have seen an increase in credit card debt in 2022.
The most common reason given for credit card debt? The combination of rising costs and insufficient income, U.S. News & World Report said.
“The second most common choice was unexpected expenses. An overwhelming majority express some degree of stress about credit card debt, from a little bit (33.1%) to a medium amount (27%) to a lot (21.5%),” the news outlet said.
Just in Time for the New Year, CUToday’s Free Morning Headline Email is Now Double-Free!
Don’t forget to check your Spam/Junk email folder if you haven’t been receiving your free, popular and daily CUToday.info news headlines.
And if you haven’t yet signed up for the new email solution on which CUToday.info has partnered with ResponseGenius, you can do so here. Signing up requires less than one minute of your time.
CUToday.info has received very positive response from readers following the move to an improved provider of the daily headlines, but many also noted they did need to go to their Spam/Junk folder and mark it as safe.
The new email solution has not only improved every reader’s delivery experience, but it also features a fresh, new format that is easy to read, especially on mobile devices.
Please note and/or make your IT department or email administrator aware the emails will be coming from the domains CUTodayinfo.com and CUTodayinfoReply.com