FORT LAUDERDALE, FL – March 28, 2025 – As policymakers push forward with efforts to cap steep credit card interest rates, the latest Credit Card Survey from Debt.com sheds light on how inflation has significantly impacted the financial stability of Americans—and how many are still struggling to dig their way out of debt.
For the second year in a row, one in three Americans say they rely on credit cards to make ends meet, with a growing number already maxed out. The national poll of 1,000 adults illustrates how rising costs have shifted credit cards from being a tool of convenience to a lifeline for survival.
Key Findings from Debt.com’s 2025 Credit Card Survey
- 32% of Americans have maxed out their credit cards
- 37% use credit cards regularly just to make ends meet
- 44% say inflation has caused them to carry a larger monthly balance
- Of those maxed out, 80% would rely on credit cards during a financial emergency, and 23% owe more than $20,000 in credit card debt
This financial strain is reflected across generations, with Millennials (42%) and Gen Xers (39%) maxing out their cards at higher rates than Gen Z (32%) or Baby Boomers (14%). Notably, over 63% of all respondents carry a credit card balance, and more than 1 in 5 owe over $10,000—a stark indicator of the mounting debt crisis.
Credit Card Interest Rates Under Fire
Debt.com’s findings emerge as Senators Alexandria Ocasio-Cortez (D-NY) and Anna Paulina Luna (R-FL) introduce a bipartisan bill to cap credit card interest rates at 10%, a move aimed at helping working people in endless cycles of debt.
Economic Backdrop: Consumer Sentiment Slips
This news comes amid fresh data from the University of Michigan’s Consumer Sentiment Index, showing a dip in consumer confidence. Economic uncertainty, persistent inflation, and high borrowing costs have left many Americans cautious about spending—and anxious about their financial futures.
Awareness of Debt Solutions Remains Low
Despite the growing burden, 57% of respondents have never considered professional or DIY debt relief options, such as credit counseling, balance transfers, or debt consolidation. This highlights a critical gap in financial education and underscores the importance of proactive outreach.
Full Survey Data Available Upon Request
Debt.com’s comprehensive report includes generational breakdowns, insights into how Americans are introduced to credit, and how financial emergencies drive credit card reliance.
