Americans Lean on Credit Cards as Credit Scores Dip and 3-Year-High Inflation Squeezes Budgets
Updated
Updated · WHYY · May 14
Americans Lean on Credit Cards as Credit Scores Dip and 3-Year-High Inflation Squeezes Budgets
4 articles · Updated · WHYY · May 14
Average U.S. credit scores fell last year as more households used credit cards to cover groceries, utility bills and other everyday expenses.
Rising consumer prices with no clear relief timeline are deepening budget strain, and food banks report heavier demand from people seeking help.
Americans are also trying to offset costs through "no spend month" challenges, carpooling, shared memberships, rebate apps and renewed couponing.
Those tactics build on earlier cutbacks in dining out, streaming services and gym memberships as three-year-high inflation forces broader changes in household spending.
As millions abandon subscriptions, is this a temporary crisis response or a permanent rejection of the digital rental economy?
When professional therapy is a luxury, can AI chatbots effectively support a generation's mental health through economic turmoil?
With the Iran conflict roiling energy markets, what is the true breaking point for the global economy?