WASHINGTON—As growth slows on the longest economic expansion in U.S. history, nearly a third (31%) of credit cardholders hold higher card balances than they've had on average since 2009 amid the Great Recession, according to a new study.
Compared to January 2019, the majority of cardholders say their ability to pay credit card bills on time is now about the same (55%), while 34% say it's better and just 11%, according to the latest survey from Bankrate.
Similarly, the majority of cardholders feel about the same (44%) or less stressed (33%) about their credit card debt, while only 23% are more stressed.
Sixty-two percent of people say they are maximizing rewards about the same as they have since January, while 20% are maximizing them more and 18% less, Bankrate reported.