There are plenty of reasons why so many Americans are sinking deeper and deeper into credit card debt. But, there’s one change that’s pretty obvious. More people now have access to lines of credit than ever before.
Unlike back in the day, more banks and credit card companies are offering credit cards to consumers. They lure them in with special promotions and perks. As a result, this increases spending and now debt is rising.
There was once a time when it was much tougher to get a credit card. Now that things have changed, the average amount of debt per household is colossal.