The impact of credit card debt can have significant consequences, particularly during tough economic times such as an abrupt job loss, a divorce, or a substantial medical expense. When faced with limited income and increased expenses, individuals often rely on credit cards to cover basic living costs.
Unfortunately, this reliance can lead to higher card balances, increased interest charges, and difficulty making minimum payments.
As credit card debt accumulates, it becomes a vicious cycle that is challenging to break free from. The burden of financial strain can seem overwhelming, causing individuals to feel trapped in a never-ending cycle of debt. Thus, as BestCards reports, it is crucial to address
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