Americans are increasingly whipping out plastic to pay for their purchases. This growing reliance on credit cards resulted in Americans closing out 2015 with more than $900 billion in credit card debt, according to a recent credit card study by CardHub.
That means the average U.S. household is shouldering the highest amount of credit card debt — more than $8,000 per indebted household — since the Great Recession.
It’s a troubling (and disappointing) trend, especially when you consider just 18 months ago,many Americans reported either taking the scissors to their credit cards or making sure to pay off their balances in full each month. But more Americans seem to be practicing “swipe now, worry later” spending habits.
