LendingClub - New Reality Check: The Paycheck-To-Paycheck Report - The Debt and Credit Deep Dive Edition - February 2023 - Explore how the 2022 holiday shopping season impacted credit card debt of United States consumers and how they are managing their payments

The Debt and Credit Deep Dive Edition

27% of US Consumers Pulled Money From Savings to Manage Credit Card Debt

A new study of 4,163 U.S. consumers found that credit card debt is also forcing 84% of those living paycheck to paycheck and seven in ten cardholders to change daily behaviors to pay down debt — and we know what’s getting cut. Read “New Reality Check: The Paycheck-to-Paycheck Report,” a collaboration with LendingClub, to find out.

Inside the February Report

  • 45%: Share of high-income consumers living paycheck to paycheck as of January 2023
  • 72%: Share of paycheck-to-paycheck consumers without issues paying bills who made holiday or year-end purchases with a credit card
  • 42%: Share of paycheck-to-paycheck consumers living without difficulty who cut back on everyday perks to better manage their credit card debt in the last year

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    New Reality Check: The Paycheck-to-Paycheck Report