Why Americans can’t escape credit card debt

Credit card APRs are now as high as 20 percent.

Americans are carrying more than $1.2 trillion in credit card debt, and for a lot of people, it’s not from splurging. It’s everyday stuff: car repairs, medical bills, groceries. And if you only make the minimum payment, that debt can grow exponentially, sticking around for years.

The average credit card interest rate today is close to 20 percent, nearly doubling since 2010. So what’s driving these high........

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