Millions of Americans are worried they won’t be able to make even the minimum payments on their credit cards. Here’s what they can do
Many Americans are struggling to meet their credit card mills during the pandemic.
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Amid one of the worst downturns in U.S. history, nearly 80% of credit card holders say they’re worried they won’t be able to continue making even the minimum payments on their debt.
The figure comes from a survey by CreditCards.com, which found millennial card holders (91%) are most at risk of missing payments. Meanwhile, 1 in 4 people say the pandemic has pushed them to take on more credit card debt.
Most of the relief measures delivered to Americans in the first stimulus package have dried up, even as the coronavirus pandemic shows no sign of abating. The unemployment rate is still above 10%, higher than at any point during the Great Recession.
More than 60% of the survey respondents said they may …continued .
[Source: CNBC News]