People are relying on credit to cover living expenses.  Groceries.  Car expenses.  Clothes.  

-Credit card balances surged past the ONE trillion dollar mark in the fourth quarter of 2023. The increase in credit card debt signals that many Americans are struggling to pay for basic needs. 

-35% of Americans said they have maxed out their credit cards the last 3 years.

-Of those who had maxed out their credit cards, 85% said they were pushed to use their cards to the limit because of price increases from inflation. 

Photo Courtesy: Forbes

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