MoneyRates Answers Americans - How Much Credit-Card Debt Is Too Much?

How Much Credit-Card Debt Is Too Much?
By Linda Vergon
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February 12, 2020 -- Foster City, CA -- Personal finance resource released a guide today for Americans drowning in credit-card debt. To answer the question, the new report looks at how debt impacts credit score, net worth, and the ability to get a loan.

While Americans currently owe $1.086 trillion on their credit cards, few understand how to optimize their debt to achieve financial goals.

"We wanted to create a guide for the average American that peels back the veil on credit-card debt," said Gina Pogol,'s managing editor on personal loans and the author of the report. "Our new guide explains how a credit bureau, a mortgage lender, and a personal finance advisor assess your level of credit-card debt so that you can make the best choices for your family's finances."

Author Gina Pogol is available for comment on the guide and what it means for Americans looking to pay down their debt in 2020. Richard Barrington can also discuss MoneyRates' latest Excess Credit Expense Index report, which found that Americans could save a total of $72.5 billion every year by using debt more efficiently.

For more details, you can read the full guide here, Credit-Card Debt: How Much Is Too Much?

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Since 1998, has served as a personal finance resource designed to help readers make the most of their money. In addition to a variety of financial calculators, researches and tracks CD, savings, and money market rates offered from over 400 financial institutions across the country to offer expert advice on banking, investing and retirement planning.


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