2021 Credit Card Debt Study

Americans must be using the federal government as an example to emulate.

U.S. consumers have started to return to bad habits when it comes to credit card debt, following a record-setting reduction in 2020 that continued into the first quarter of 2021. During Q2 2021, consumers added $45.7 billion to their tab – an all-time record that nearly wiped out the first-quarter paydown. Furthermore, WalletHub now projects that consumers will end the year with a net addition of $100 billion in credit card debt, which far exceeds the 10-year average of $45.6 billion.

Source: 2021 Credit Card Debt Study: Trends & Insights


  1. I know plenty of people who just cannot wait until they save up the cash to make a purchase. They never tell themselves or their kids NO, we cannot afford it. I said NO, to my 4 kids all the time. They are now age 30, 36, 41, & 43, all with zero credit card debt. I use credit cards all the time and never pay interest. I have received over $500 in cash back so far this year. I have 3 cards that have zero interest for 18 months and the cards will be paid off before any interest will be charged. I love using the banks money and getting paid to do it. I almost never pay cash for anything, why would I, when the banks are willing to pay me 1 to 5 percent on purchases, that I make each month, anyway. I just made my minimum payment on my BoA credit card with my cash back. No worries because my BoA credit card is zero interest until Oct 2022. IMO – Interest should only be paid on a car or house, the way it was 50 years ago. I did not get my first credit card until I was 30 in 1986, the biggest financial mistake of my life.

    Liked by 1 person

      1. I wonder how much of the carried debt is at zero interest. I am currently carrying $3,000 @ zero interest, until Oct 2022. With zero interest offers filling my mail box every week, I am sure I am not the only one. I do believe that higher inflation is going to drive credit card debt to all time highs in the next few years.

        Liked by 1 person

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