Credit & Debt
Credit scores, credit reports, debt payoff strategies, student loans, credit card debt, collections, and rebuilding credit. Practical advice for managing and reducing what you owe.
Latest in Credit & Debt
U.S. credit card debt crosses $1.33 trillion — average balance now $6,580 per person
A $6,580 credit card balance can take years to fully pay off when the minimum payment barely covers last month’s interest. That is the situation...
Americans now owe over $1.3 trillion in credit card debt — average balance hits record $6,580
The average American credit card balance has reached $6,580, a record high according to TransUnion’s quarterly credit industry analysis, and total outstanding credit card debt...
The real cost of making minimum payments on $6,580 in credit card debt at 25% APR
Picture this: you owe $6,580 on a credit card charging 25% APR. You pay the minimum every month, never miss a due date, and never...
Americans now owe a record $1.277 trillion in credit card debt: 55% covers essentials like groceries and rent
The credit card statement used to be where vacations and flat-screen TVs showed up. Now it has become where eggs, rent, and the electric bill...
What different credit scores really cost in interest over 90 days
Imagine two people each owe $5,000 on a credit card. Neither makes a purchase. Neither makes a payment. After 90 days, one owes roughly $213...
How to pay off a debt in collections and rebuild your credit score at the same time
Seeing a debt account sent to collections can feel like a financial setback that is hard to recover from. Many consumers assume that their credit...