Amid Inflation, More Americans Using Credit Cards For Everyday Needs

More Americans are relying on credit cards to pay for basics, as paychecks are stretched this by inflation, according to new Census Bureau data.
SAN FRANCISCO - FEBRUARY 25:  Visa credit cards are arranged on a desk February 25, 2008 in San Francisco, California. Visa Inc. is hoping that its initial public offering could raise up to $19 billion and becoming  the largest IPO in U.S. history.  (Photo Illustration by Justin Sullivan/Getty Images)

At a glance

  • Thirty-five percent of households last month used credit cards, or loans, for basic expenses, census data also shows.
  • Last month’s percentage compares to  32% in November and just 21% in April 2021, according to the Household Pulse Survey.
  • The increased use of credit cards comes amid rising interest rates.

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