In 2024, credit card debt accounted for 6.36% of all United States household debt, up from 5.8% in 2020. Credit card balances surged during the pandemic and, by the end of 2022, Alaska led the nation with the highest average credit card debt per household at $4,430. The growing reliance on credit cards has led experts to project that by 2029, 68.44% of the U.S. population will use them actively, which is a significant increase in penetration rates.
Credit cards can play a positive role in personal finance, offering rewards and convenience, but the reality is that carrying a balance can lead to long-term financial stress. If you’re one of the 35% of consumers who carry a balance on credit cards, credit card debt relief can help ease the burden. Below, we've done the research on the best credit card debt relief companies to help you gain control of your finances.
