A recent survey from Debt.com exposes the mounting financial pressures facing American households, with significant implications for consumer economic stability. The 2025 Credit Card Survey reveals that 37% of Americans now use credit cards regularly just to make ends meet, underscoring the profound impact of ongoing inflationary challenges. The survey of 1,000 adults uncovered stark statistics about credit card usage and debt. Notably, 32% of respondents have maxed out their credit cards, with 44% reporting they are now carrying larger monthly balances due to inflation. Generational differences emerge in these trends, with Millennials (42%) and Gen Xers (39%) experiencing higher rates of credit card maxing compared to Gen Z (32%) and Baby Boomers (14%).
More than 63% of survey participants currently carry a credit card balance, and over 20% owe more than $10,000. Perhaps most alarmingly, 80% of those with maxed-out cards would still rely on credit during a financial emergency, highlighting the precarious financial position of many households. The survey coincides with a bipartisan legislative effort by Senators Alexandria Ocasio-Cortez and Anna Paulina Luna to cap credit card interest rates at 10%. Howard Dvorkin, CPA and Chairman of Debt.com, emphasized the importance of this potential intervention, noting that 27% of respondents are unaware of their current credit card Annual Percentage Rate (APR).
Consumer sentiment data from the University of Michigan further contextualizes these findings, showing a decline in consumer confidence driven by economic uncertainty, persistent inflation, and high borrowing costs. Despite these challenges, 57% of survey respondents have never explored debt relief options such as credit counseling, balance transfers, or debt consolidation. The research underscores an urgent need for improved financial education and proactive strategies to help Americans navigate increasingly complex economic landscapes. As inflation continues to exert pressure on household budgets, understanding and managing credit card debt has become more critical than ever.
