According to the Federal Reserve Bank of New York, household debt is up to $17.94 trillion. Credit card debt increased by $24 billion to hit the $1.17 trillion mark—a staggering number.
The rising interest rates on credit cards are undoubtedly contributing to these major increases. According to LendingTree, the average APR for all new credit card offers is 24.61%.
Considering those astronomical numbers, here are some tips for managing credit cards and credit card debt to help you escape those statistics.
This post originally appeared at ValueWalk.com.