Americans are piling on credit card debt at an alarming pace, and the unprecedented interest rates on these unpaid balances can be as much as 30% to 35%. No wonder it seems impossible to get out from under it.

But with hard work and proper guidance, you can do it. In this episode: Meet two people who were drowning in credit card debt and got their finances back in order. Also, a certified nonprofit credit counselor explains how debt consolidation works and the dangers of using a for-profit debt settlement company.

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Whether it’s points, miles, or cash back, it’s nice to be rewarded for shopping. The lure of “getting something extra” can encourage you to apply for new credit cards and spend more to score those rewards.

In recent years, many credit card reward programs have become more complex and confusing, and frustrated cardholders are complaining to federal regulators.

In this episode: Should the CFPB create new rules to regulate credit card rewards programs? Also, a close-up look at the most common complaints about airline rewards cards, and how chasing rewards can cost you money.

Additional Resources:

Credit Cards: How to Choose the Best One

Credit Cards Provide Strong Protections for Consumers

Saving on Gas: Which Rewards Credit Cards Offer the Best Deals at the Pump?

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