美国国家公共电台 NPR--Americans are piling up credit card debt — and it could prove very costly

Americans are piling up credit card debt — and it could prove very costly¹

Transcript²

More Americans are leaning on their credit cards in the face of rising prices. And as interest rates continue to climb, that debt is getting a lot more expensive.

The average credit card user was carrying a balance of $5,474 last fall, according to TransUnion, up 13% from 2021.

That marks a reversal from the first year of the pandemic, when many Americans were able to pay down credit card debt, thanks to generous government relief payments and limited spending on travel and entertainment.

As credit card balances balloon again, they can cast a long shadow over family finances.

Here's what to know about rising credit card debt – and what you can do about it.

It's the everyday stuff that people are charging

With inflation outpacing incomes, more people are relying on credit cards to cover everyday expenses.

"Contrary to popular opinion, it's not usually a vacation or shopping spree," says senior industry analyst⁴ Ted³ Rossman of Bankrate. "It's usually something pretty practical that gets you into credit card debt. But unfortunately, it's easy to get in and hard to get out."

Mel Murphy's rent gobbled up two-thirds of her income as a part-time custodian⁵ in Spokane, Wash. That left little wiggle room when unexpected expenses popped up.

"Every time my minivan all of a sudden needed $300 worth of work, or I had an elderly cat, and every time he needed emergency surgery, it went on the credit card," Murphy says.

Fewer people are paying off their balances every month

The share of credit card users who carry a balance has increased to 46% from 39% a year ago, according to Bankrate.

"Almost half of card holders⁶ are carrying debt from month to month," Rossman says. "And that debt is as expensive as ever."

Lower-income cardholders are more likely to carry a balance. But even among people making $100,000 a year or more, 37% don't pay the their credit card bill in full every month.

Carrying over card balances is expensive

The average interest rate on credit card debt has soared to nearly 20%, from just over 16% at the beginning of last year. That's the largest one-year increase in the four decades Bankrate has been tracking rates.

The Federal Reserve has been aggressively raising interest rates in an effort to curb⁷ inflation. Each time the central bank raises rates, the cost of carrying a balance on your credit card goes up as well.

But when Bankrate did a survey last month, they found more than 4 out of ten credit card holders don't even know what their interest rate is.

"You don't notice it so much on the monthly statement," Rossman says. "Your minimum payment might change by only a few bucks⁸ a month. But the problem is, when you drag it out for a decade and a half plus, that's where you really feel it."

There are ways to cut your cost of credit

Of course, the best thing to do if you find yourself with a large credit card debt is to pay it off as quickly as possible. But if you must carry a debt, there are ways to save.

Some card issuers offer zero percent interest on balance transfers, but only for a limited time. Alternatively, it might make sense to take out a low-interest personal loan or consult with a non-profit credit counselor⁹ about steps to reduce your interest expense.

Don't chase credit card rewards if you're carrying debt

Instead of searching for a card with the lowest interest rate, many people prioritize rewards, like cash back. But if you're carrying a balance, that can be a mistake.

"If you have debt, I would say forget about rewards entirely¹⁰. Because it doesn't make sense to pay 20% interest to get 1 or 2 or even 5% back or airline miles," Rossman says. "You've got to put that interest rate first and then worry about rewards later on, once you've paid it off."

1 costly   

adj.昂贵的，价值高的，豪华的

参考例句：

• It must be very costly to keep up a house like this.维修这么一幢房子一定很昂贵。
• This dictionary is very useful,only it is a bit costly.这本词典很有用，左不过贵了些。

2 transcript   

n.抄本，誊本，副本，肄业证书

参考例句：

• A transcript of the tapes was presented as evidence in court.一份录音带的文字本作为证据被呈交法庭。
• They wouldn't let me have a transcript of the interview.他们拒绝给我一份采访的文字整理稿。

3 ted   

vt.翻晒，撒，撒开

参考例句：

• The invaders gut ted the village.侵略者把村中财物洗劫一空。
• She often teds the corn when it's sunny.天好的时候她就翻晒玉米。

4 analyst   

n.分析家，化验员；心理分析学家

参考例句：

• What can you contribute to the position of a market analyst?你有什么技能可有助于市场分析员的职务？
• The analyst is required to interpolate values between standards.分析人员需要在这些标准中插入一些值。

5 custodian   

n.保管人，监护人；公共建筑看守

参考例句：

• Benitez believes his custodian is among the top five in world football.贝尼特斯坚信他的门将是当今足坛最出色的五人之一。
• When his father died his uncle became his legal custodian.他父亲死后，他叔叔成了他的法定监护人。

6 holders   

支持物( holder的名词复数 )； 持有者； （支票等）持有人； 支托（或握持）…之物

参考例句：

• Slaves were mercilessly ground down by slave holders. 奴隶受奴隶主的残酷压迫。
• It is recognition of compassion's part that leads the up-holders of capital punishment to accuse the abolitionists of sentimentality in being more sorry for the murderer than for his victim. 正是对怜悯的作用有了认识，才使得死刑的提倡者指控主张废除死刑的人感情用事，同情谋杀犯胜过同情受害者。

7 curb   

n.场外证券市场，场外交易；vt.制止，抑制

参考例句：

• I could not curb my anger.我按捺不住我的愤怒。
• You must curb your daughter when you are in church.你在教堂时必须管住你的女儿。

8 bucks   

n.雄鹿( buck的名词复数 )；钱；（英国十九世纪初的）花花公子；（用于某些表达方式）责任v.（马等）猛然弓背跃起( buck的第三人称单数 )；抵制；猛然震荡；马等尥起后蹄跳跃

参考例句：

• They cost ten bucks. 这些值十元钱。
• They are hunting for bucks. 他们正在猎雄兔。 来自《简明英汉词典》

9 counselor   

n.顾问，法律顾问

参考例句：

• The counselor gave us some disinterested advice.顾问给了我们一些无私的忠告。
• Chinese commercial counselor's office in foreign countries.中国驻国外商务参赞处。

10 entirely   

ad.全部地，完整地；完全地，彻底地

参考例句：

• The fire was entirely caused by their neglect of duty. 那场火灾完全是由于他们失职而引起的。
• His life was entirely given up to the educational work. 他的一生统统献给了教育工作。