Groceries emerge as primary driver of US credit card debt

Recent surveys indicate that groceries have become the primary driver for credit card debt among Americans. According to research conducted by Atomik Research for Accredited Debt Relief, 66% of adults with at least $10,000 in unsecured debt used credit cards to pay for groceries in the past year, surpassing other essential costs such as transportation (47%) and utilities (45%).

Data from Drive Research further suggests that 70% of individuals carrying credit card debt attribute the majority of their balances to daily expenses rather than large, planned purchases. This trend is particularly prevalent among renters, with 72% citing everyday costs as the main reason for growing debt.

The financial strain has led to a cycle of reduced spending; 45% of respondents reported cutting back on necessities like food or household essentials to manage their debt payments, a figure that rises to 54% among teachers.