1 in 3 consumers fear they will max out credit card… Ever-increasing amounts of debt

  • More than 1 in 3 Americans — or 91 million people — say they’re afraid they’ll max out their credit card when making a large purchase.
  • Still, most Americans continue to take on ever-increasing amounts of credit card debt.

Despite the dangers of high-interest debt, more consumers are testing the limits of plastic.

To that point, more than 1 in 3 Americans — or 91 million people— said they’re afraid they’ll max out their credit card when making a large purchase, according to a new WalletHub credit cards survey. (Most of those polled considered a large purchase as anything over $100.)

“A healthy amount of fear is justified,” said Odysseas Papadimitriou, CEO of WalletHub. “Issues stemming from large purchases more often concern people making too many of them, for the wrong reasons.”

www.cnbc.com/2020/02/10/1-in-3-consumers-fear-they-will-max-out-a-credit-card.html