Debt's 2025 Credit Card Survey Reveals Alarming Credit Card Debt Trends As Inflation Continues To Strain American Wallets

"Inflation may be easing in headlines, but in households, the impact remains severe," says Howard Dvorkin, CPA and Chairman of Debt. "Our survey shows people are still forced to lean on high-interest credit cards for daily survival-and most haven't explored solutions to get out."

Key Findings from Debt's 2025 Credit Card Survey

• 32% of Americans have maxed out their credit cards
• 37% use credit cards regularly just to make ends meet
• 44% say inflation has caused them to carry a larger monthly balance
• Of those maxed out, 80% would rely on credit cards during a financial emergency, and 23% owe more than $20,000 in credit card debt

This financial strain is reflected across generations, with Millennials (42%) and Gen Xers (39%) maxing out their cards at higher rates than Gen Z (32%) or Baby Boomers (14%). Notably, over 63% of all respondents carry a credit card balance , and more than 1 in 5 owe over $10,000 -a stark indicator of the mounting debt crisis.

Credit Card Interest Rates Under Fire

Debt's findings emerge as Senators Alexandria Ocasio-Cortez (D-NY) and Anna Paulina Luna (R-FL) introduce a bipartisan bill to cap credit card interest rates at 10%, a move aimed at helping working people in endless cycles of debt.

"We are seeing interest rates above 24%, and 27% of survey respondents don't even know their APR ," says Dvorkin. "This lack of awareness paired with record-high balances is financially dangerous. The proposed cap could offer real relief to millions, but education and action are key."

Economic Backdrop: Consumer Sentiment Slips

This news comes amid fresh data from the University of Michigan's Consumer Sentiment Index , showing a dip in consumer confidence. Economic uncertainty, persistent inflation, and high borrowing costs have left many Americans cautious about spending-and anxious about their financial futures.

Awareness of Debt Solutions Remains Low

Despite the growing burden, 57% of respondents have never considered professional or DIY debt relief options , such as credit counseling, balance transfers, or debt consolidation. This highlights a critical gap in financial education and underscores the importance of proactive outreach.

Full Survey Data Available Upon Request

Debt's comprehensive report includes generational breakdowns, insights into how Americans are introduced to credit, and how financial emergencies drive credit card reliance.

About Debt
Debt is a leading provider of financial education and solutions, connecting consumers with expert resources for credit counseling, debt relief, and personal finance management. The company offers tools, guides, and referrals to help people overcome debt and achieve lasting financial stability.

SOURCE Debt

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