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Credit Cards: Do you pay your payment in full or carry debt?

The number of consumers who carry debt from month to month is less than those who pay in full, but the problem is the amount of debt.

GREENSBORO, N.C. — Having a credit card bill is one of the most common things when it comes to consumers. While having a monthly bill is not a surprise, how consumers pay that bill may be surprising to you. 

According to Bankrate.com, 53% of credit card users pay off their bills every month and 47% carry a balance. 

"That 47% with debt is up from 39% two years ago. So, unfortunately, we're moving in the wrong direction there," said Ted Rossman of Bankrate.com. 

The New York Federal Reserve says for the first time ever, Americans combined credit card balances topped $1 Trillion, which includes a rise of  $45 Billion in the second quarter alone. 

"We've always had high debt households carry high debt. The average household is in at least nine to $12,000 worth of credit card debt, which means that debt is not being paid down. It's just lingering, which is obviously bad.  People are just continuing to carry this debt and even adding to it.," said Jennifer Streaks, Senior Personal Finance Reporter, Insider.

Bankrate.com has an interactive graphic that pulled data from each age group about their financial regrets. Of course, accumulating too much credit card debt is on the list. 

Overall: 15%

Gen Z: 11%

Millennials: 16%

Gen X: 18%

Baby Boomers: 15%  

Credit card debt is an issue really for all ages. So, how can you get yourself out? 

"I think the best way to lower your rate and shorten the term is to get a 0% balance transfer card," said Rossman. 

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