Credit card debt is growing fast in today's economy. Between the average credit card interest rates sitting above 23% and interest charges compounding daily, even small purchases can balloon into large balances.

Credit Card Users Are Still Paying Off Last Year’s Holiday Debt Americans tend to overspend during the holiday season. In fact, some borrowers are still paying off debt from last year’s purchases. To that point,

Americans' credit card debt just hit a new all-time high of $1.17 trillion, according to the New York Federal Reserve.

F alling behind on credit card payments can be a tough issue to deal with, but it becomes even more challenging when your debt is sent to collections. When that happens, the frien

Canceling a credit card could cause your credit score to drop. The only reason to cancel a long-standing credit card is if it charges an annual fee that's no longer worth paying. Put a small recurring charge on older credit card accounts you want to keep open.