53% of Americans carrying credit card balances say they’re using them to cover groceries, utilities and other basic living expenses
Over half (53%) of American consumers carry credit card balances to cover the rising cost of essential expenses, with 25% of consumers carrying these debts for 6 months or longer, according to a new survey by Achieve, the leader in digital personal finance.
The March 2026 survey of 2,000 consumers was conducted by Achieve’s think tank, the Achieve Center for Consumer Insights, and complements the Federal Reserve Bank of New York’s upcoming Quarterly Report on Household Debt and Credit by providing qualitative insights into consumer borrowing and debt.
“Rising credit card usage does not signal financial strength. For many, it’s a coping mechanism to make ends meet,” said Austin Kilgore, analyst for the Achieve Center for Consumer Insights. “Increasingly, we’re seeing Americans rely on revolving debt not for discretionary spending, but to manage the rising cost of everyday necessities.”
Gas prices are up 28% this year
National average rent climbed to $1,737 in May
More than half of small businesses say inflation remains their biggest problem after 17 straight quarters of pressure
Consumer confidence is sliding again
People can argue about inflation reports all day
Running up credit card debt to buy groceries is harder to argue with