Survey reveals Americans are more stressed about credit cards than a year ago surveyed 1,000 Americans on how credit card spending affects them psychologically and found that a higher number of people than last year feel the emotional weight of their plastic debt.

“There has been a significant year-over-year increase in the number of Americans who feel stressed and ashamed of their credit card debt,” says the report. “The latest Mental Health and Money survey revealed a 13% increase when asked ‘How do you feel after using your credit card(s)?'”

This stress is causing disputes for many in relationships. When asked how credit card debt affects them socially, 11% responded “my partner and I argue about my credit card expenses,” an 8% increase compared to the same question last year.

According to the survey results:

  • 4% more admit that their credit card bills make them feel stressed this year (43%) compared to last year (39%).
  • Over 37% avoid looking at their credit card bills because it is too painful, a 5% increase from last year. 7% more say they have applied for new credit cards because they felt sad or stressed this year (26%) compared to last year (19%).
  • Over 3 out of 10 feel stressed after using their credit cards. Over 4 out of 10 say that the stress continues when they review their credit card bill.
Read Also  Where Does Adam Sandler Live? Exploring the Comedian's Luxurious Properties

More respondents than last year say that “the convenience of spending with a credit card negatively affects their mental health.”

  • Stress from credit card debt spills over into the relationships of many respondents, for example:
  • My partner and I argue about my credit card expenses, 11.28%
  • I avoid dates, 4.74%
  • I hide my credit card expenses from my partner, 11.28%
  • I avoid going out with friends or family, 9.57%
  • I avoid talking about money or my future plans (buying a house, starting a family, moving, etc.), 11.47%
  • My credit card debt does not affect my social life, 51.66%

To see the full survey and methodology, click here.

Leave a Comment