- Half of the older households were carrying medical expenses, such as prescription drugs and dental expenses, on their credit card accounts.
- 34% of the older households were using their credit cards to pay for basic living expenses such as groceries, utilities and housing costs.
- Job loss was a factor in running up credit card debt in nearly 25% of the older households.
- But the older households have a much bigger heart than the younger households: 23% have taken on credit card debt to help other family members versus 11% of the younger households.
Older Americans Running Up Large Credit Card Debt
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