How to Money · Friday, September 11, 2026
A Lending Tree study indicates that 40-60% of Americans misuse credit cards by carrying a balance, with Gen Z showing the highest rates at 60%. The hosts warned about the long-term financial implications, noting that carrying a $7,800 balance with minimum payments could take 27 years to pay off.
“So there's depending on who you ask, it's somewhere between 40 and 50% of Americans who essentially use credit cards incorrectly.”
“Younger people are using credit cards, which is, I mean, historically accurate, I think too. It tracks like Gen Z or something six out of 10, 60%. are carrying a balance on their credit card.”
“The average credit card balance, Matt, is $7,800. It would take 27 years to pay that balance off with minimum payments.”