Between average credit card interest rates hovering near 22% and the relentless pressure of compounding interest many cardholders are watching their balances grow at an alarming rate right now. Add to this the burden that inflation and other economic stressors are causing and it’s easy to see how credit card debt can quickly spiral out of control.
Carrying high amounts of credit card debt can have far-reaching consequences, though. It can damage your credit score, making it difficult to secure loans or favorable interest rates in the future. And, in the worst-case scenarios, the inability to pay off yo…
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