Even as Americans focus on paying down revolving debt, millions are relying on credit cards to address income challenges during the pandemic.
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As consumer debt levels continue to break records, driven by credit card debt, many households may turn to balance transfer credit cards to consolidate. However, new changes in credit cards offering 0 interest on balance transfers could make this type of consolidation less beneficial.
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Consumer credit card use continues to climb, now beating pre-recession levels of spending. Credit card debt increased by 13% in November alone, leading to an all-time high of $1.023 trillion. Here’s what you can do to pay off your debt.
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The CFPB estimates that one in three rehabilitated student loan borrowers is at risk of re-defaulting on their student loan debt in the next 2 years.
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The average credit card interest rate is now at 15.22%. What does that mean for your ability to manage credit card debt effectively within your budget?
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Collection practices for defaulted student loan debt won’t get any gentler, but customer service for repayment on current student loans may get better.
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You want to eliminate your student loans but a high monthly payment burden now could prevent major life goals like marriage and buying a first home.
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