Americans paid banks $113 billion in credit card interest during 2018, according to a new study from MagnifyMoney. That’s up 12% from interest paid in 2017, and up by roughly half over the last five years.

Americans will pay $122 billion in credit card interest this year, 50% more than five years ago. Do you trust yourself to not overspend with credit cards?

Yes, I restrain from overspending with credit cards.

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Lesson learned the hard way after my dad gave me my first CC on my 18th birthday without teaching me how to (not) use it. I bought stupid 18 year old shit, of course, and ended up in the cycle of trying to pay it down. Use them to build credit and earn rewards, but pay it down every month!