credit debt
Outstanding card balance
Credit debt is money owed from borrowing through credit cards or other revolving credit accounts.
Unlike a mortgage or car loan with fixed payments, credit debt typically carries high interest rates and can grow rapidly if only minimum payments are made.
They're struggling to pay down their credit debt.
The term often appears in discussions of personal finance and consumer spending habits.
- loanBorrowed money repaid later
- interestAttention, stake, or fee
- interest rateCost of borrowing money
- balanceSteadiness or amount owed
- balance transferMoving debt to another account
payment · minimum payment · borrowing · owed · bills · late fee · collection · default · overdue · installment · bankruptcy · financial · burden · maxed · maxed out · statement · APR · principal
- wastefulnesswaste, squandering, extravagance, profligacy, dissipation
credit debtsavings
Accumulated money kept
assets · net worth · cash reserves · equity · investments
credit debtsaving
Reserving for future use
thrift · frugality · fiscal responsibility · financial discipline · accumulation
credit debtfinancial freedom
financial independence · solvency · financial security · economic autonomy · paid off
credit, debt, credits, credited, crediting, creditor, creditors, creditable, accredit