(Area) It’s National Credit Card Debt Reduction Day which Mark Gelbman, owner and financial advisor at Strategic Wealth Solutions, LLC in Urbandale, says is meant to bring awareness to a growing problem.
“As of last quarter 2024, credit card balances actually had surpassed 1.17 trillion dollars nationwide, which is a record, and lot of that is born out of the fact that a number of consumers are not keeping up with the rate of inflation and just the cost of day to day living,” said Gelbman.
Gelbman notes that while Iowans carry lower credit debt than the national average, that’s still comes out to roughly six-thousand dollars in overall credit card debt.
