How to Manage Mounting Nationwide Credit Card Debt

How to Manage , Mounting Nationwide , Credit Card Debt .

According to TransUnion data, the average credit card debt per borrower in the United States has increased 8.5% year-over-year, reaching $6,218.

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The added pressure on consumers has made it even more difficult to pay down their debts.

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Yahoo Finance recently sought expert advice for insights into how Americans can manage amid the current levels of credit card debt.

Discover Personal Loans Vice President Dan Nickele highlights the debt management benefits of personal loans.

One of the great things about a personal loan is that you can check your rate without impacting your credit report, so you can explore your options.

, Dan Nickele, Discover Personal Loans Vice President, via Yahoo Finance.

And I think options are a consumer's best friend, especially somebody who's trying to manage their debt.

, Dan Nickele, Discover Personal Loans Vice President, via Yahoo Finance.

So I would encourage somebody who thinks they might have a savings opportunity to go out and figure out what rates they can actually earn, explore their options for payments and rates, Dan Nickele, Discover Personal Loans Vice President, via Yahoo Finance.

Yahoo Finance points out that while the pace of inflation showing signs of moderating, consumers are still facing increased pressure on their budgets.

At the same time, Bank of America's annual Homebuyer Insights Report found that 72% of potential homebuyers are concerned about ongoing rent increases.

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A National Institute on Retirement Security also found that 79% of Americans expressed pessimism amid a retirement savings crisis