42% of Americans Have Racked Up More Credit Card Debt Since COVID-19 Began

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  • Many Americans have seen their credit card balances balloon amid the Covid-19 pandemic.
  • Carrying those balances from month to month can cost big money in interest over time.
  • If you’re worried about your debts, these tips can help you start addressing the problem.
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Covid-19 has triggered unprecedented financial challenges for many individuals and families.

Now, one survey shows just where many of them are feeling the pinch — their credit card balances.

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Bankrate.com finds that 42% of U.S. adults with credit card debt have increased those balances since the Covid-19 pandemic began in March 2020. The company’s online survey was conducted in early September and included 2,400 adults, 1,297 of whom had credit card debt.

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