A credit card is not an extension of your income. My dad told me not to carry debt, always pay on time, and charge manageable amounts.

Americans struggling with credit card debt hope relief will come with more expected interest rate cuts later this year. However, for many, they find themselves in a tough spot.

As reported by WalletHub, credit card debt was $1.30 trillion in August 2024, setting a new record. Despite surpassing the previous peak, it’s still $99 billion shy of the all-time high set in 2007. Although the Federal Reserve recently cut interest rates,

While credit cards offer rewards and deferred payments, they can also lead to debt if not used responsibly. To avoid high-interest charges, aim to pay off balances monthly and understand the associated fees and regulations.