Upgrade CEO Renaud Laplanche called credit cards a “horrible financial product designed to keep people in debt.” U.S. credit card balances hit a record $1.3 trillion in Q4 2025. He is not wrong.
73% of credit card debt is from essentials, not overspending. Steve and Damon explain why your income is your biggest asset for escaping debt, not your enemy.
Credit card debt hit $1.329 trillion — what the 2026 survey numbers reveal about who’s really drowning and the options nobody tells you about.
Quick Answer: Yes, it’s possible to eliminate debt without damaging credit by making minimum payments on all debts while focusing extra money on paying off one debt at a time. This approach maintains on-time payment history and contractual obligations, which actually improves credit scores over time.Terri wrote and asked her question through the GetOutOfDebt.org site. …
Quick Answer: Paying more than credit card minimums may hurt during economic uncertainty because banks are dramatically slashing credit limits and closing accounts, even for good customers. The author recommends prioritizing cash savings over extra payments since credit availability can disappear instantly during financial crises.I know this is going to sound like crazy talk but …
Quick Answer: People can qualify for debt management assistance even with good payment history and available assets, as qualification primarily depends on ability to make the required monthly payments. The key concern is whether investing remaining funds in a volatile stock market is a wise strategy when facing high debt levels.“Dear Steve,My husband has been …
Quick Answer: Debt consolidation itself doesn’t hurt credit scores, but closing existing cards with good payment history can reduce credit age and available credit limits. The main benefit comes from lower interest rates, not from consolidation alone, and credit unions may access checking accounts if payments fall behind.“Dear Steve,I opened up too many credit card …
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