Credit card debt

Newsweek -   As living costs continue to strain household budgets, millions of Americans are increasingly relying on credit cards to cover everyday expenses, driving debt to record levels and leaving many struggling to keep up with payments.

With credit cards being used by nearly three-quarters of Americans and accounting for the majority of retail spending, a report suggests that rising debt and borrowing costs are becoming a central pressure point for household finances nationwide.

New analysis from The Century Foundation and Protect Borrowers has found roughly 111 million people, or more than 40 percent of U.S. adults, are unable to pay off their credit card balances each month. Instead, they carry debt forward, often facing interest rates exceeding 22 percent on average, which compounds what they already owe.