Retiree Struggles With $40K Credit Card Debt Amid Sky-High Rates
A 73-year-old retiree, Susan Cannon, carries about $39,440 in credit-card debt across 19 cards with interest rates up to 34.99%, a situation worsened by the pandemic and ongoing inflation that forces reliance on cards for essentials; advocates push for caps on credit-card rates as relief, while banks warn such caps could reduce access to credit.