Debt.com's 2025 Credit Card Survey Reveals Alarming Credit Card Debt Trends as Inflation Continues to Strain American Wallets

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Mar 25, 2025, 05:25 ET

FT. LAUDERDALE, Fla., March 25, 2025 /PRNewswire/ -- As lawmakers propose new legislation to cap sky-high credit card interest rates, Debt.com's latest Credit Card Survey reveals just how deeply inflation has driven Americans into debt—and how many are struggling to escape it.

For the second year in a row, 1 in 3 Americans say they rely on credit cards to make ends meet, with many already maxed out. The nationwide survey of 1,000 U.S. adults underscores how inflation and rising costs have turned credit cards from convenience tools into financial lifelines.

For the second consecutive year, Debt.com's survey of 1,000 Americans shows that one in three need credit cards to make ends meet – and many are maxed out. U.S. credit card balances have ballooned since the worldwide inflation surge began in March 2021. Those who have already maxed out their cards are most vulnerable. Eight in ten “would need to rely on credit card(s) if faced with a financial emergency.” Just over 23% of them already owe more than $20,000.

"Inflation may be easing in headlines, but in households, the impact remains severe," says Howard Dvorkin, CPA and Chairman of Debt.com. "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.com'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.com'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.com's comprehensive report includes generational breakdowns, insights into how Americans are introduced to credit, and how financial emergencies drive credit card reliance.

About Debt.com
Debt.com 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.com