Best Credit Card Offers specially for you

About Us  |  Contact Us  |  Articles  |  News  |  Tips  |   Tools
ADVERTISER DISCLOSURE is an independent, advertising-supported web site which is compensated by the credit card issuers whose offers appear on the site. This compensation may impacts how and where the credit products appear on our site, including, the order in which they may appear within credit product lists. does not review or offer all available credit products.

Many Americans In Credit Card Debt Have Been In Debt For Over Two Years

[Tuesday, November 7th, 2017]

If you are carrying credit card debt and feel like you’ve been carrying it forever, you might be right. Well, maybe not forever, but for a while.

Nearly half of adults in the United States who are in debt to their credit cards have been trying to pay off their balance for at least two years, a recent study has found. That amounts to about 29 million people, 15 million of whom have been in credit card debt for five years or more.

Perhaps surprisingly, older folks (ages 63-71) are the most likely demographic to carry credit card debt for at least two years. Of this age category, 63% have been in credit card debt for two years or more. And 57% of those ages 72 and up have been carrying a balance for more than two years, as well.

Once you get in, it’s hard to get out

One of the reasons it’s hard to get out of credit card debt once you’re in it is that folks may have gone into debt because of an unexpected event or emergency. Once that’s happened, if your income doesn’t go up, it’s difficult to find the extra funds to put toward the balance you can’t pay off.

However, sometimes people get into debt simply by keeping up with their daily expenses, especially young people who make starting-out salaries. Fifty-one percent of people ages 18-26 said they are credit card debt only due to “keeping up with day-to-day expenses.”

Climbing out of debt

Sticking to a budget and not charging more to your credit card than you can afford is a good rule of thumb; however, sometimes it’s simply not possible. If you’re in credit card debt and have struggled to pay it off for a number of years, whether it’s two years or ten years, the best thing to do is apply for a balance transfer credit card that doesn’t charge interest for a certain number of months.

Using a promotional offer in this way is a good method for getting out of debt faster, and skipping the interest charges, while you’re at it.

Read also

Costa Rica, Rome, And Vietnam Among Top Destinations For Travelers In 2018
[January 19th, 2018]

One of the best things about credit cards is being able to accrue frequent flyer miles and other travel perks, just by making purchases you’d be making anyway. And American Express, which offers many popular travel rewards credit cards, recently released a report on the most popular travel destinations for travelers looking forward to adventures in 2018.

Continue reading ››

People Feel Better About Their Financial Lives Than Their Love Lives, Says Survey
[September 2nd, 2017]

Is it harder to find true love, or to be financially successful? The third annual Love & Money Survey, conducted by TD Bank, offers some insight on Americans’ struggle to achieve happiness in both their romantic lives and their financial ones.

Continue reading ››

Nearly 100 Million Americans Store Credit Card Info Online
[June 19th, 2017]

Despite a common conception that older people are more reluctant to trust technology, especially when it comes to money matters, it seems the so-called “Silent Generation,” or those in their 70s and 80s, are the most likely to save their payment information on websites or mobile apps.

Continue reading ››
Copyright © 2003-2018 All Rights Reserved strives to keep credit card information up to date and accurate. However, all the credit card information is presented without warranty and can be changed by the credit card issuers at any time. Click the "Apply online" button to see the online credit card application and to review current credit card terms and conditions. Note that can be compensated by credit card issuers when the visitors apply for a credit card through the website.
* The webpage is a free service and an information resource for credit cards and financial products and services available to eligible United States consumers. does not offer any warranties and is not a direct service. There are no guarantees for approval or offers when applying for a credit card. Please refer to the application if you would like more information on each credit card. When you click "Apply" for a particular credit card, please take the time to review the terms and conditions of the product/service at the issuer's website. All logos on the website are property of their respective owners.
Information in these articles is brought to you by Banks, issuers, and credit card companies mentioned in the articles do not endorse or guarantee, and are not responsible for, the contents of the articles.
Disclosure: Not an access card.