Priority Plus Financial on how interest rates are impacting credit card debt

Priority Plus Financial is one of the leading financial institutions founded to help people who need help with clearing debt. One such service includes debt consolidation loans for individuals who have problems with credit card debt. For the past few years since the pandemic started, there has been a surge of credit card users all over the country. And with this recent surge also comes an increasing number of people who are knee-deep in credit card debt. The numbers show it all; according to a survey conducted, almost more than half (51%) of credit card users have increased credit card debt because of the COVID pandemic. With jobs scarce and an economy that is not just ravaged by the pandemic, but also due to high gas prices thanks to an ongoing conflict in Eastern Europe, interest rates are now starting to rise up in order for the economy to survive in these troubled times. The Federal Open Market Committee just increased its target federal funds rate range from 0.75% - 1...