Many consumers will have to pare down or spend more on gifts this year, just to match what they gave last year.

And they're adding premium perks to justify the price.

Credit card and other debt rose fast in April, but low unemployment means most Americans are still spending.

“Once you get into the credit economy … you start getting exposed to hidden fees, penalties, identity theft, and it also induces overbuying,” says Ralph Nader.

Late card payments and minimum payments are at a record high, the Philadelphia Fed says. Seasonal and longer-term factors have led to the rise.

More than 60% of all purchases last year were made with a credit or debit card, according to the Federal Reserve. That’s up from 45% in 2016.

Consider convenience fees and interest before you change the way you pay your landlord. They could erase any credit card rewards.

An analysis from personal finance company WalletHub found consumers took on an additional $74 billlion in credit card debt in 2024.

“Firms are catching more shenanigans than they did in the past” because of AI, says Callum Borchers of the Wall Street Journal.

The proportion has doubled since last year. Amid constant advertising, more people have credit card balances and those balances are rising.