The year 2020 changed life for families across the globe. Amid major adjustments like working from home, virtual schooling and new healthcare precautions, there was another area where Americans experienced change. The Covid-19 pandemic altered credit card habits for consumers nationwide.
During a year when millions were stuck at home and unemployment rates reached a record high, credit card debt took an unexpected downward turn. According to Experian, consumers lowered their credit card debt by an impressive 14% during 2020.
Read on to discover how your credit card management habits measure up to others. Youll also find some tips on how you can reduce your credit card debt and tools you can use if your debt seems overwhelming at present…
Read the full article at: https://www.forbes.com/advisor/credit-cards/how-much-do-you-owe-how-credit-card-debt-changed-in-2020/