"Holiday Spending Surge Leads to Increased Credit Card Debt"
The LendingTree Credit Card Confidence Index reveals that only half of American credit card users are confident they can pay off their December balances, marking an all-time low in confidence. With national credit card debt at a record $1.08 trillion and average interest rates at 21%, consumers face growing financial pressure. Women, in particular, have less confidence in their ability to pay off credit card debt compared to men. Experts suggest strategies such as balance transfers to zero-APR cards and consulting credit counseling services to manage and reduce debt. Interest rates are expected to ease slightly in 2024, but will remain historically high.