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Inflation is forcing customers to rack up more credit card debt

Surging inflation and rising interest rates are forcing more and more Americans to pile up credit card debt.

According to LendingTree.com, a ‘typical consumer’ has over $6,500 in credit card debt - sometimes using plastic to pay for essentials like groceries and gas.

With the average rate for a new credit card at 21%, analysts say escaping that debt will be difficult.

Joe Kelley

Joe Kelley

News Director

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