Overview
- A LendingTree survey reported 37% of Americans took on holiday debt averaging $1,223, up from $1,181 last year and the highest since 2022.
- An estimate cited by the National Retail Federation suggests households add more than $1,500 in seasonal debt, according to comments reported by WSBT.
- Balance transfer credit cards offer 0% introductory APRs for roughly 12 to 21 months, typically charge 3%–5% transfer fees, and generally require good credit around 670 or higher.
- Debt consolidation loans can roll multiple balances into one payment, with amounts spanning about $1,000 to as high as $100,000 and wide APR and fee ranges from providers such as Avant and Upstart.
- Budgeting tools like Monarch and YNAB aim to track spending and speed paydowns, and advisers urge monitoring balances, prioritizing high-interest debts and setting a clear post-holiday payoff plan.