In the first quarter of 2024, U.S. adults had 543.1 million credit cards, up from 523.2 million at the beginning of 2023. More Americans are also carrying more balances across those credit lines. The Federal Reserve Bank of New York reported in mid-May that U.S. residents now owe a total of $1.12 trillion on credit cards. It’s probably not surprising that the number of people carrying balances on those credit cards is also up from last year, with some 169 million people carrying a credit card balance – meaning they did not pay off what they owed by the end of the grace period.
When it comes to high-interest credit card debt and other monthly financial obligations, pay your bills on time, and strive to pay off your entire balance at the end of each billing cycle.
Why Pay Off Monthly Balances
There are some specific reasons to stick with this proven approach. When you pay off your balances monthly:
Can’t pay off your balances every month? We get it. With inflation still pushing up the price of nearly everything – and millions of people living paycheck-to-paycheck – not everyone will be able to pay all their credit card balances every month. And that’s OK.
Category: Our Community
Need a smart strategy to save on essential school supplies? Planning your dream vacation or gearing up for the holiday season? With a club account, you can save for essential school supplies, exciting vacations, and joyful holiday celebrations, making your financial goals more attainable and stress-free.
Now is the moment to turn your attention to your tax obligations. With less than 60 days remaining until the tax deadline now is a good time to prepare your documents and file.
As temperatures rise in the summer months, so do our utility bills. However, with a few mindful practices, you can keep your energy costs in check, while staying comfortable at home.
When it comes to high-interest credit card debt and other monthly financial obligations, pay your bills on time, and strive to pay off your entire balance at the end of each billing cycle.
Seven-Eleven Day is here! For those not familiar with the significance of this day, on July 11th every year, 7-Eleven stores across the country celebrate with free Slurpees for all their customers. It’s the perfect way to beat the summer heat and indulge in a variety of flavors.
Knowing how credit inquiries affect you is a big part of being financially healthy. When you apply for a credit card or loan the creditor will “pull” your credit. This is known as a hard inquiry – but there are also soft inquiries, too. Here is what makes them different:
The beginning of the school year is an exciting time for families, but it also comes with the stress of managing expenses. From school supplies to clothing and extracurricular activities, the costs can quickly add up. Here are some saving strategies to help you send your kids back to school prepared:
Thank you to everyone who submitted a photo to our contest, and to all of you who voted for your favorites! Our 2025 calendar theme is: “Best in Show.” This year, we celebrated the diverse and beloved pets that bring joy to our lives. We were excited to see so many proud pet parents showcasing what makes their companions truly special.