A new report says credit cards are causing a great deal of physical and emotional stress on Americans with large amounts of debt, even leading to sleepless nights.
That report is from LendEDU, a personal finance marketplace. It's easy to see why the results are what they are. Americans have $11.9 billion in credit card debt.
LendEDU surveyed 1,000 credit card holders in the U.S. who were carrying a balance of more than $5,000. The average respondent held a balance of $13,884, and 88 percent said they had stress due to credit card debt with 33 percent saying it was a daily struggle.
More than half - 55 percent - reported sleep loss, and 30 percent said they get headaches.
It's taking a toll on relationships as well. Credit card debt had been attempted to be concealed by from a partner by 31 percent of respondents, and 17 percent said their credit card debt was a reason why their relationship ended.
Mike Brown, the research analyst behind the survey, said the big takeaway is to not get overextended.
"Don't take out credit card debt - make sure you spend within your means," Brown said. "Try as hard as you can not to carry a credit card debt balance, because once that starts happening, then you have APR charges and it just keeps spiraling out of control."
Start a budget and try to pay off your credit card each month. Once you start letting credit card debt carry over each month, it's a tough habit to break."
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