Terry Savage: Credit card breathing room

Americans currently hold approximately $1.25 trillion in credit card debt, with the average consumer balance reaching $6,595. Delinquency rates have climbed to their highest level seen in 15 years. A significant portion of this accumulated debt is incurred by individuals who are simply attempting to manage their everyday expenses. These figures highlight a growing financial strain on consumers as they struggle to maintain basic living costs through the use of credit cards.