Americans are struggling with mounting credit card debt as more US consumers relied on credit spending in 2024’s first quarter. The Federal Reserve Bank of Philadelphia found nearly 3.5% of card balances were past due in the final month of 2023, a time when credit card debt reached a record $1.13 trillion among Millennial cardholders.
Self Financial Head of Community and Financial Expert Monique White lists the best ways to avoid and offset delinquencies while keeping better track of spending to improve one’s credit score.
"If you do find yourself delinquent and you’re trying to get yourself back on track, you’ve already contacted your credit card companies but you still feel crippled from it, you can always contact free counseling or[a] credit coaching agency that can provide those types of free services," White tells Yahoo Finance. "They can come up with a game plan, they can sit down and contact your credit card companies and find ways for you to start making on-time payments again."
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