Survey Finds 51 Percent of Homeowners Carry Monthly Credit Card Balances Amid Financial Stress
A new survey by Newrez found that 51 percent of homeowners carry monthly credit card balances, contributing to financial stress and forcing trade-offs in daily spending. The findings come as the U.S. national debt has surpassed $40 trillion and gasoline prices hit record highs over Labor Day.
More than half of American homeowners carry a monthly credit card balance, according to a new survey by Newrez, a mortgage servicer, released in September 2026.
The survey found that 51 percent of homeowners do not pay off their credit cards in full each month, leaving them subject to interest charges that can compound quickly. Many respondents said the balances are forcing them to make trade-offs in their daily spending, cutting back on dining out, travel, and discretionary purchases.
The findings arrive as American households face pressure from multiple directions. The U.S. national debt surpassed $40 trillion in August 2026, a milestone that economists warn could push interest rates higher over time. Gasoline prices hit a record high for the Labor Day holiday, exceeding $4 per gallon nationally.
The Congressional Budget Office projects the federal deficit will reach $2.1 trillion this fiscal year. Interest payments on the national debt have reached $931 billion through the first 10 months of the fiscal year, an 11 percent increase from the same period last year.
Financial advisors say the combination of high credit card interest rates, elevated gas prices, and rising costs of living is squeezing middle-class households. The average credit card interest rate is currently above 20 percent.
"Carrying a balance at these rates is very expensive," said one certified financial planner. "Even a small balance can cost hundreds of dollars a year in interest."
Advisors recommend building an emergency fund of three to six months of expenses as a first step toward breaking the cycle of credit card debt.
