Some families were able to pay down credit card debt during the pandemic but in the last two years, with rising food and fuel prices many have had to return to credit card use. One family who had reached financial stability in 2020 has already maxed out two new cards for food and rent. Late fees, rising interest rates, global turmoil, and widespread job losses could add to the financial burden that may families experience in the coming months.
More debt, higher fees: Credit card borrowers face mounting burdens
