More Americans use credit cards to pay as inflation keeps rising: media-Xinhua

More Americans use credit cards to pay as inflation keeps rising: media

Source: Xinhua

Editor: huaxia

2022-04-30 19:18:11

WASHINGTON, April 30 (Xinhua) -- More people in the United States are using credit cards to pay their bills as the country's inflation continues to rise, and some of them are having trouble paying their bills, a U.S. media outlet has said.

Many Americans used government pandemic checks to pay off their debts in 2020 and 2021, but rising inflation has made it more difficult for them to "make ends meet each month," according to U.S. WZTV television.

"U.S. credit card debt has now reached 900 billion U.S. dollars and accumulating interest that is growing with inflation," said WZTV, citing economist Mike PeQueen.

Some 13 percent of Americans now feel it is "very difficult" to pay their bills, according to a survey by the U.S. Census Bureau.