COSTA MESA, Calif.—Most Americans would give up social media, among other things, to get rid of their credit card debt.
Credit card debt has continued to climb to more than $1 trillion, with the average cardholder having a balance of $6,375, according to a report by Experian.
One-in-three Americans is losing sleep over their debt, and one quarter report that debt has hurt their relationships with family, Experian reported.
Even though 68% of those with credit card debt are concerned about how they will pay it off, very few have plans in place to get rid of it, the study shows.