NORTH DAKOTA (KXNET) — Data from Bankrate is telling a story that more people are carrying credit card debt than before the early days of the pandemic, and that may or may not be their choice. 50% of cardholders have debt every month, which is up 44% in January — this is also the highest number Bankrate has seen since March 2020, when 60% of cardholders carried month-to-month debt. "Credit card balances fell sharply in 2020, as many Americans spent less during the pandemic and used stimulus funds to pay down debt," explained Bankrate's Senior Industry Analyst, Ted Rossman. "Since the beginning of 2021, however, credit card balances have been off to the races. According to Federal Reserve data, Americans owe 45% more now on their credit cards than they did in early 2021. And the credit card delinquency rate is at its highest point since 2022." While no generation is free from the burden, the likelihood of carrying a balance does increase with age before dropping with the boomer generation, showing that 42% of Gen Zers, 53% of millennials, 60% of Gen Xers, and 48% of boomers all carry a month-to-month balance. Raising awareness of cervical cancer with screenings in January The likelihood of carrying any sort of balance falls as income increases, but 58% of cardholders have an annual household income under $50,000. Those are the ones with the balance. The length of the debt is a sign that balances have become harder to pay off, with three in five of those with credit card debt being in debt for at least a year. The chances of carrying debt for a year get higher as you get older, but stay consistent with income. The economy isn't helping debt situations either. Inflation, debtors say, is what's making their burdens worse. And others share that high interest rates have made it worse. 24% of Americans don't have confidence in their ability to get out of debt, and 17% worry that they won't be able to make their minimum payment at some point in the next six months. Only 42% of people have a plan to pay off their debt. Close Thanks for signing up! Watch for us in your inbox. Subscribe Now Today's Top Stories SIGN UP NOW