56 million credit cardholders have been in debt for at least a year, survey finds
CBSN
Although Americans helped stave off a recession in 2023 by spending enough to propel economic growth, it has come at a cost: Nearly half of consumers say they are carrying credit card debt, according to a new survey from Bankrate.
The personal finance firm found that 49% of credit card users carry a balance from one month to the next. That's up a full 10 percentage points from 2021. Of those who revolve their balances, 58% — 56 million people — have been in debt for at least one year, according to Bankrate.
The vast number of Americans racking up credit card debt isn't a sign of reckless spending. The most common reason for not paying off their plastic every month is facing emergency or unexpected expenses, such as medical bills and car repairs, respondents told Bankrate, while many people also use their charge cards to handle daily expenses.
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PUNXSUTAWNEY, Pa. (KDKA) — Punxsutawney Phil is predicting six more weeks of winter after seeing his shadow at Gobbler's Knob Sunday morning.
It was Sunday April 25, 2021, a spring morning in the farmland of Lenawee County, Michigan. Rikkell Bock drove the short distance from her house to her childhood home for her weekly breakfast with her mother, Dee Warner.
This story originally aired on April 20, 2024.
A decision by the acting leadership at the U.S. Justice Department to delete its public webpages and case summaries of the Jan. 6 siege at the Capitol prosecution has triggered a legal challenge from a watchdog group and blowback from a federal judge who oversaw some of the cases.
CHICAGO (CBS) -- One of the FBI's 10 most wanted fugitives, a man accused of stabbing his wife to death just hours after their wedding in Chicago in 2012, has been captured in Mexico.
The Trump administration on Saturday imposed 25% tariffs on imports from Canada and Mexico, while adding an additional 10% levy on goods from China. The salvo, which President Trump had threatened even before returning to power earlier this month, underlines his willingness to use trade policy even against some of the U.S.' largest economic allies.
The U.S. military conducted coordinated airstrikes against ISIS operatives in Somalia, the first attacks in the African nation during President Trump's second term.
President Trump has fired the director of the Consumer Financial Protection Bureau, Rohit Chopra, in the latest purge of a Biden Administrator holdover.
Beginning Feb. 1, schools, museums and communities across the nation will mark the start of Black History Month — a celebration of Black history, culture and education.
Urban dwellers in Washington D.C., San Francisco, Toronto, New York City, and Amsterdam might have seen rats scurrying across their cities — and they're not imagining an influx.
Dee Warner disappeared on a Sunday morning in the spring, just as the first crops were being planted in the farmland of Lenawee County, Michigan. Warner, 52, was living on a farm with her second husband, Dale Warner, and their one child together, then 9. The Warners ran three main businesses from their farm, and Dee Warner had four adult children from her first marriage — all living on their own.
Less than 10% of the nation's airport terminal towers have enough air traffic controllers to meet a set of standards set by a working group that included the Federal Aviation Administration and the controllers' union, according to a CBS News analysis of FAA data.
The Centers for Disease Control and Prevention took offline recommendations on how doctors should treat sexually transmitted infections and vaccinate adults Friday, as part of a sweeping purge of all mentions of "gender" from federal websites ordered by the Trump administration this week.
The Centers for Disease Control and Prevention took offline recommendations on how doctors should treat sexually transmitted infections and vaccinate adults Friday, as part of a sweeping purge of all mentions of "gender" from federal websites ordered by the Trump administration this week.