A recent national survey by Debt.com exposes the critical financial challenges facing Americans in 2025, with mounting credit card debt emerging as a significant economic concern. The study of 1,000 adults reveals that 37% of respondents now rely on credit cards to make ends meet, underscoring the persistent impact of inflation on household finances.
The survey uncovered alarming trends across generational lines, with Millennials (42%) and Gen Xers (39%) experiencing the highest rates of maxed-out credit cards. More than 63% of respondents now carry a credit card balance, and over 20% owe more than $10,000—a stark indicator of the growing debt crisis.
Howard Dvorkin, CPA and Chairman of Debt.com, emphasized the severity of the situation, noting that while inflation headlines suggest improvement, everyday Americans continue to face significant financial pressure. The survey revealed that 44% of respondents have been forced to carry larger monthly credit card balances due to rising costs.
The findings coincide with a bipartisan legislative effort by Senators Alexandria Ocasio-Cortez and Anna Paulina Luna to cap credit card interest rates at 10%. This proposed legislation could provide critical relief, especially considering that 27% of survey respondents are unaware of their current credit card interest rates.
Despite the mounting debt, 57% of respondents have never explored debt relief options such as credit counseling or debt consolidation. This lack of awareness suggests a significant gap in financial education and potential resources for struggling consumers.
The University of Michigan's Consumer Sentiment Index further corroborates these findings, indicating a decline in consumer confidence driven by economic uncertainty and persistent inflation. With 32% of Americans having maxed out their credit cards and 80% stating they would rely on credit during a financial emergency, the survey paints a complex picture of financial vulnerability.
