Inflation Drives Americans to Max Out Credit Cards as Prices Outpace Wages

1 in 3 Americans have maxed out credit cards due to inflation and rising prices, struggling to afford basic needs
Credit card debt surpassed $1 trillion in Q4 2022 as households increasingly rely on credit
Nearly half (45%) of Americans say inflation is why they've leaned heavily on credit cards recently
85% of those who've maxed out cards were pushed to the limit by price hikes from inflation
Interest rate hikes have pushed card rates higher, but potential Fed rate cuts in 2024 could spur refinancing opportunities