Many struggle with credit card debt due to high interest rates. The average rate reached 22.3%, up from 16.28% in 2020. Struggling households face a monthly budget shortfall of $904 in 2025, up from $439 in 2020. GreenPath Financial Wellness offers free debt counseling to help those in need.

Households seek counseling due to growing budget deficits. Average credit score dropped to 582 in 2025. Consumers rely on credit cards for everyday expenses. Debt management programs help lower interest rates and payments. GreenPath worked with 65,000 people to repay $300 million in debt in 2025.

Proposed 10% credit card rate cap creates confusion. President Trump’s proposed cap faces pushback. Industry warns of reduced credit availability with a rate cap. Consumers could face reduced credit lines and fewer offers. Credit card industry may need to change significantly.

Consumers should contact credit card companies for rate reduction. Issuers may offer lower rates for a limited time. Options still available to deal with debt. Proposed rate cap could impact vulnerable consumers. Contact GreenPath for debt counseling and assistance.

Read more at Yahoo Finance: Households coming up nearly $1,000 short each month. How to get help.