How to Pay Off Credit Card Debt
Published On Feb 7, 2025, 9:00 AM
A recent report highlights rising credit card debt in the U.S., with many Americans making only minimum payments amid increasing interest rates now averaging over 21%. Financial experts recommend evaluating spending habits and stress the need to address the underlying issues causing excessive debt instead of merely shifting it to different credit cards.
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Given the rising levels of credit card debt and the strain on consumer finances, companies in the financial sector, particularly credit card issuers, may see profit impacts due to increased delinquencies. However, companies offering financial advice or debt management solutions could benefit from a heightened demand for their services.
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